Actually an isolated storage inductor, a flyback transformer is a combination of an isolating transformer, output inductor, and flywheel diode. These use a gapped core and have a power handling capability of 100VA. Storing energy in the gap when the switch is on and delivering energy to the load when the switch is off, they do not perform like standard transformers.
a flyback circuit uses the flyback action of an inductor or a flyback transformer to convert the input voltage and current to the desired output voltage and current
When the current flowing through an inductor is cut off the energy stored in the magnetic field is released by a sudden reversal of the terminal voltage. If a diode is in place to conduct the stored energy somewhere useful, the diode is called a flyback diode. This only requires one winding on the inductor, so the inductor would be called a flyback transformer. This arrangement has the interesting property of transferring energy to the secondary side of the power supply only when the primary switch is off. Such switchmode power supplies are called flyback converters.