Display ads include not only images but also text, logo or location maps and other similar things. Text with a link which leads to another webpage or other website is called as text link. It is popularly called as as anchor text. Display ads are paid while text links can be paid ads or free links through some other means (for example through article syndication or some directories)
Display ads are simple images or banner like if you have noticed on the top of this page a banner is showing ads i.e."Adversal CPM ad network" than that is display ads and text ads are simple text ad like my signature pointing towards another website.
Display ads are images such as the banner at the top where text links are simple text ads like signature.
Display ads Are images and if you go with display ads you will get better responsive Text ads is like signature