Amazon RDS Multi-AZ is a collection of managed services that simplifies database setup, operation, and scaling. It offers two deployment options: RDS Multi-AZ with one standby and RDS Multi-AZ with two readable standbys. Both options provide high availability and enhanced durability by automatically replicating data across multiple availability zones. The two readable standby option offers improved performance with up to 2x better write latency and additional read capacity. It also allows for faster failover times, typically under 35 seconds compared to 60 seconds for the one standby option. Amazon RDS Multi-AZ enables users to customize their database workloads for optimal availability and performance.