Vignette effect is a reduction of an Image’s brightness towards the periphery compared to the brightness of the image at the center. that means it decreases the brightness of an image or video around its edges,
it is a classic old school effect like, but it is an interesting Effect. it is also called a light falloff effect.
Vignette effect can be created on Images and as well as Videos also.
Vignette from Creative Impatience
This plugin allows to create a vignette on the source clip. Both rectangular and elliptical vignettes are supported. Vignettes can be repositioned and rotated, applied in any color and blending mode available, to the inside or to the outside. Alternatively only the mask can be rendered, replacing the source layer altogether or the vignette can be filled with transparency.
Premiere Pro version supports 8 and 32 bits (Maximum Bit Depth). In After Effects only 8 and 16 bit depth is supported so far.