Village

Villages are Generated Structures added in Update 0.9.0. They consist of several structures and are inhabited by Villagers.

Generation
Villages may generate in the following Biomes:
 * Plains (Oak Wood and Cobblestone)
 * Oak Forest (Oak Wood and Cobblestone)
 * Savannah (Acacia Wood and Cobblestone)
 * Taiga (Spruce Wood and Cobblestone)
 * Desert (Sandstone)
 * Ice Plains (Spruce Wood and Cobblestone)

Roads

 * Made of Grass Paths.

Oak Wood Bridges

 * Replaces Grass Paths in Water.

Wood Huts

 * Have Dirt floors and brown Carpet tables.

Doorless Wood Huts

 * Cube-shaped.
 * May spawn with a balcony on top.

Large House

 * L-shaped.
 * The largest type of house in the village.

Butcher's House

 * Large houses with a fenced-in yard and Stone Slabs in a "counter" formation.

Blacksmith's Shop/House

 * Contain Chests with loot.
 * Spawn with Lava Source on the outside
 * Not every Village contains one.

Church

 * Made of Cobblestone, has three floors, and generates with a Priest (or cleric)
 * Not all Villages have one.
 * Usually the tallest building in the Village.

Library

 * Contains 10 Bookshelves, brown Carpet tables and a Crafting Table.

Farms

 * Generated structures with Potatoes, Wheat, Carrot, or Beetroot crops.

Lamp Posts

 * Black Wool with Torches on 4 sides and held up by 3 Oak Fences.
 * Not every Village contains them. More likely to spawn in Villages without Blacksmiths and Churches.

Wells

 * Made of Cobblestone and Oak Fences (Sandstone and Oak Fences in Desert Villages).
 * Mobs who fall in cannot get out.
 * Has a 1/1000 chance that it can lead to a Stronghold.

Loot
The following items can be found in the blacksmith chest that sometimes spawns in a village.
 * Apples
 * Bread
 * Iron Ingots
 * Saplings
 * Obsidian
 * Iron Sword
 * Iron Pickaxe
 * Gold Ingots
 * Iron Helmet
 * Iron Chestplate
 * Iron Leggings
 * Iron Boots
 * Diamonds
 * Saddles
 * Horse Armor
 * Emeralds
 * Ink Sacs

Zombie Village
Villages have a chance to spawn as Zombie Villages. In this case, they will consist of Mossy Cobblestone, Vines and Cobwebs, and Zombie Villagers will spawn in place of regular Villagers. They don't contain any Doors or Torches.

Trivia

 * Some Villages can rarely generate together, creating double or triple Villages.
 * Back when lava and fire was a problem blacksmith houses would burn down because of the lava tub.
 * Often, when this happens, Grass Paths and building may overwrite structures from another Village.
 * Sometimes, Lava in Blacksmiths can flow through the house at Village generation near spawn.
 * Villages are currently the only sources of fully grown Beetroots.
 * However, not all Villages generate with a Beetroot farm.
 * Biome Based Villages were added in Update 0.15.0, as well as Zombie Villages.

Video
