do spain and portugal form a island

3 answers

No. Together they form the Iberian peninsula of Europe. Take a look at a map or globe and you will see.

http://www.travelnotes.org/Directory/countries/spain/spain.gif
However there are 7 wonderful islands, belonging to Spain:

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Sra
Two small pieces of the Iberian peninsula (besides Spain and Portugal) that I did not mention are the Rock of Gibraltar area (which belongs to the UK) and the tiny nation of Andorra.

Spain also owns the Balearic islands in the Mediteranean, and a small disputed island off the coast of Morocco.