The Post Formats feature in WordPress allows you to display posts in a different way . “You can specify the display “format” of a specific post. This feature expands the micro-blogging aspect of WordPress because now you can have videos, links, images, audios, quotes, statuses, etc. all in one place, and the best part is that they will be styled accordingly.”
for easy implementation, check out WooTumblog by WooThemes to create a tumblr style blog