and can you play it on the ps2

What's known as DVD rips depends on who's ripping them, Normally though, DVD rip means Divx.

Given the proper Codecs your PC will play Divx (AVI), MPG, VCD SVCD MPEG2 etc. You can get some good codec packs here (http://www.vcdhelp.com/vcdtools.htm).
DVD Players generally support VCD, SVCD & MPEG2 (DVDR) but none I know of play Divx.
Check this list (http://www.vcdhelp.com/dvdplayers.php) to see what formats and media your player supports.

AS for PS2 check the PS2 forum.