Gizmo (also often referred to as "Giz" by Billy) is an adorable, very kind Mogwai who is the pet of Billy Peltzer. He doesn't seem to have a single bit of evil within him unlike some of the other Mogwais, making him an Eternal, or a Mogwai who refuses to be evil. He used to be owned by Mr. Wing until his death. Gizmo currently lives with Billy andKate Peltzer in New York.
Despite not being wicked and vicious like the gremlins and some other Mogwai's, Gizmo has shown he's just as adept as they are with weapons and electrical devices, such as being able to know how to work an electrical keyboard, turning on a television, operating a toy car, playing a trumpet, just being plain adorable, and making an effective bow and arrow out of office supplies. This might be a reference to his name, as the word "gizmo" means a gadget.
Gizmo has shown a love for television, which he developed while in the Peltzer's care in the first movie. While Mr. Wing found the idea of the mogwai watching tv ridiculous, it has proven useful for Gizmo as in the first film, he watched a movie involving a race and became interested in cars, or as he called them 'Vroom-Vroom'. In the climax, Gizmo drove a toy car through the department store to reach the greenhouse department before Stripe's new army was born. In the second movie, television proves its use for Gizmo again as he recalled what the hero of the Rambo movie did and mimicked those tactics with amazing results.