This chapter is systematically divided into three distinct stages. The initial stage elucidates how bi-fractality and multifractality emerge by applying a unipolar invariant measure. We scrutinize the implications of these findings, extending the discussion to a broader context through the widely utilized Saddle Point Approximation and clarifying the interconnection between multifractality and thermodynamic formalism. The second stage delves into multiplicative binomial cascades, presenting an alternative and prevalent methodology for generating multifractality. In the final stage, we introduce and juxtapose fluctuation multifractality with autocorrelation multifractality. The insights derived from this chapter represent a significant advancement in examining diverse multifractal random walks.