There seem to be three kinds of lag spikes also:
The ones where the game starts slideshowing, but still moving forward. This is the traditional "someone's ping just shot up"
The ones where the game completely stops moving for a little while, but you can still type messages and people can chat. No idea why this happens but it occurs every couple games.
And the ones where the connection window pops up and someone's timeout time starts increasing. This happens whenever someone leaves but I've also seen it happen and the person who was lagging recover and the game continues. Also don't know what triggers this.