Giphy Search is a search engine where you can supposedly, as its name suggests, quickly search for GIF images. However, it has been classified as a browser hijacker that will attempt to commandeer one’s browser search and homepage. The browser hijacker will send you to malicious websites to get money from you or infect your computer further. It may also prevent you from changing your settings back.
Giphy Search is usually installed through bundled software without you knowing. Remove it immediately.