A review of Tm and Ho materials is presented, covering some fundamental aspects on the spectroscopy and laser dynamics in both single and co-doped systems. Following an introduction to 2-μm lasers, applications and historical development, the physics of quasi-four level lasers, energy transfer and modeling are discussed in some detail. Recent developments in using Tm lasers to pump Ho lasers are discussed, and seen to offer some advantages over conventional Tm:Ho lasers. This article is not intended as a complete review, but as a primer for introducing concepts and a resource for further study.