What are the two types of its?

There are its and it's.

Its = pronoun (like his, hers, their)

It's = it is (contraction like don't, can't, won't)

They can be a little confusing. Just remember that it's is short for it is. If you can say it is in the sentence, then it is okay to use it's.

It's (see how you can replace it with it is):

It's all good.

It's a beautiful day!

We will leave when it's over.

Its (see how it works as a noun replacement):

The bird fell out of its nest.

The little bear ran to its mom.

The book was not in its place.