Electrically Erasable Programmable ROM (EEPROM): The next level of erase ability is the EEPROM, which can be erased under software control. This is the most flexible type of ROM, and is now commonly used for holding BIOS programs. When you hear reference to a "flash BIOS" or doing a BIOS upgrade by "flashing", this refers to reprogramming the BIOS EEPROM with a special software program. Here we are blurring the line a bit between what "read-only" really means, but remember that this rewriting is done maybe once a year or so, compared to real read-write memory (RAM) where rewriting is done often many times per second!
Note: One thing that sometimes confuses people is that since RAM is the "opposite" of ROM (since RAM is read-write and ROM is read-only), and since RAM stands for "random access memory", they think that ROM is not random access. This is not true; any location can be read from ROM in any order, so it is random access as well, just not write-able. RAM gets its name because earlier read-write memories were sequential, and did not allow random access.
Finally, one other characteristic of ROM, compared to RAM, is that it is much slower, typically having double the access time of RAM or more. This is one reason why the code in the BIOS ROM is often shadowed to improve performance.