I have a static non-animated GIF image, is there anyway to extract a line of text and/or its font formatting information from it? I've tried opening it in GIMP, but the whole image appears to be only a single layer.
There are a few techniques I know of for extracting this information from an image.
What the font allows you to upload an image of your text and it tries to match the characters to a font. I recommend cropping your image down to just the text before uploading for best results.
Project Naptha is a Chrome extension which OCR's images and allows you to copy the text. This will get you the text content (more or less) but not the formatting or styling.
Illustrator / Photoshop
Once you've used What the Font (which may give you more than one option) you can try the retyping the text in Illustrator or Photoshop. I often line up the new text over with 50% opacity so I can figure out the weight, kerning, baseline and leading. In Illustrator this is all done using the Character panel (Windows > Type > Character).
I did this recently with the Logo for the National Center for Biomedical Ontology. Here's the original logo (I only had a JPEG).
I didn't know what font it was so I cropped it down to just the big letters for What the Font.
Then I uploaded it to What the Font, it got all of the letter except for the "I"'s, which I fixed.
What the Font said it was Arial Narrow so I started trying to fit that to the logo.
I had to tweak the kerning for a few letter to get them lined up. In the it's never going to be exactly the same placement as the original but it's pretty close.