Abstract: We present a comprehensive and versatile theoretical framework to study site and bond percolation on clustered and correlated random graphs. Our contribution can be summarized in three main points. (i) We introduce a set of iterative equations that solve the exact distribution of the size and composition of components in finite-size quenched or random multitype graphs. (ii) We define a very general random graph ensemble that encompasses most of the models published to this day and also makes it possible to model structural properties not yet included in a theoretical framework. Site and bond percolation on this ensemble is solved exactly in the infinite-size limit using probability generating functions [i.e., the percolation threshold, the size, and the composition of the giant (extensive) and small components]. Several examples and applications are also provided. (iii) Our approach can be adapted to model interdependent graphs—whose most striking feature is the emergence of an extensive component via a discontinuous phase transition—in an equally general fashion. We show how a graph can successively undergo a continuous then a discontinuous phase transition, and preliminary results suggest that clustering increases the amplitude of the discontinuity at the transition.