I have a Ph.D. in computational and theoretical chemistry with advanced but field-oriented knowledge of mathematics.
I am fascinated by fractals, but I am unable to understand them from the formal point of view. To my level of understanding, they look like a graphical rendering of an ill-conditioned iterative problem, where small variations of the initial condition lead to huge changes in the final result, but that's just what I got out of it with my current knowledge.
How would you explain fractals (such as the Mandelbrot set) to a layperson with basic mathematics knowledge from high school, and how would you instead explain it to someone which has more math training, but not formal.
This question is collateral to a post on the Mandelbrot set I did on my blog some time ago. If you have any comments on what I was doing with my tinkering of the parameters (to get some keywords for further exploration), it's greatly appreciated. I would like to explain it better to my readers, but I am unable to do it. Thanks

For a "high-level" explanation, I would say this: Fractals are surprisingly complex patterns that result from the repeated application of relatively simple operations/rules.
One of the easiest to visualize examples is the Koch snowflake, constructed by adding smaller triangles to each face of the figure at each iteration:
A more real-world example is the fern leaf. The DNA in a single plant cell encodes enough information to describe the structure of an entire leaf (and the entire plant, for that matter) without explicitly describing the location of each cell. Instead, the cells grow according to a set of simple rules that result in the self-similar appearance of the fern, even at smaller and smaller levels:
For a more complex mathematical explanation that still remains tied to the real world, have a look at the basic Ricker model of population growth and the resulting bifurcation diagrams:
(source: phaser.com)
The x-axis on this graph is population growth rate and the y-axis is population density. Although it looks complex, All it takes is a handful of iterations of the basic formula on a hand calculator to see how the results can oscillate between seemingly random population levels.