diff --git a/moto/emr/models.py b/moto/emr/models.py
index c73923919e70..e26c03d8fa6b 100644
--- a/moto/emr/models.py
+++ b/moto/emr/models.py
@@ -53,7 +53,7 @@ def __init__(
         self.instance_fleet_id = instance_fleet_id
 
 
-class FakeInstanceGroup(BaseModel):
+class FakeInstanceGroup(CloudFormationModel):
     def __init__(
         self,
         cluster_id: str,
@@ -82,7 +82,7 @@ def __init__(
         self.name = name
         self.num_instances = instance_count
         self.role = instance_role
-        self.type = instance_type
+        self.instance_type = instance_type
         self.ebs_configuration = ebs_configuration
         self.auto_scaling_policy = auto_scaling_policy
         self.creation_datetime = datetime.now(timezone.utc)
@@ -122,6 +122,45 @@ def auto_scaling_policy(self, value: Any) -> None:
                         ):
                             dimension["value"] = self.cluster_id
 
+    @property
+    def physical_resource_id(self) -> str:
+        return self.id
+
+    @staticmethod
+    def cloudformation_type() -> str:
+        return "AWS::EMR::InstanceGroupConfig"
+
+    @classmethod
+    def create_from_cloudformation_json(  # type: ignore[misc]
+        cls,
+        resource_name: str,
+        cloudformation_json: Any,
+        account_id: str,
+        region_name: str,
+        **kwargs: Any,
+    ) -> "FakeInstanceGroup":
+
+        properties = cloudformation_json["Properties"]
+        job_flow_id = properties["JobFlowId"]
+        ebs_config = properties.get("EbsConfiguration")
+        if ebs_config:
+            ebs_config = CamelToUnderscoresWalker.parse_dict(ebs_config)
+        props = {
+            "instance_count": properties.get("InstanceCount"),
+            "instance_role": properties.get("InstanceRole"),
+            "instance_type": properties.get("InstanceType"),
+            "market": properties.get("Market"),
+            "bid_price": properties.get("BidPrice"),
+            "name": properties.get("Name"),
+            "auto_scaling_policy": properties.get("AutoScalingPolicy"),
+            "ebs_configuration": ebs_config,
+        }
+
+        emr_backend: ElasticMapReduceBackend = emr_backends[account_id][region_name]
+        return emr_backend.add_instance_groups(
+            cluster_id=job_flow_id, instance_groups=[props]
+        )[0]
+
 
 class FakeStep(BaseModel):
     def __init__(
@@ -292,11 +331,15 @@ def instance_groups(self) -> List[FakeInstanceGroup]:
 
     @property
     def master_instance_type(self) -> str:
-        return self.emr_backend.instance_groups[self.master_instance_group_id].type  # type: ignore
+        return self.emr_backend.instance_groups[
+            self.master_instance_group_id  # type: ignore
+        ].instance_type
 
     @property
     def slave_instance_type(self) -> str:
-        return self.emr_backend.instance_groups[self.core_instance_group_id].type  # type: ignore
+        return self.emr_backend.instance_groups[
+            self.core_instance_group_id  # type: ignore
+        ].instance_type
 
     @property
     def instance_count(self) -> int:
diff --git a/moto/emr/responses.py b/moto/emr/responses.py
index 76df2920323a..39f66e9cc200 100644
--- a/moto/emr/responses.py
+++ b/moto/emr/responses.py
@@ -758,7 +758,7 @@ def remove_auto_scaling_policy(self) -> str:
               <InstanceRequestCount>{{ instance_group.num_instances }}</InstanceRequestCount>
               <InstanceRole>{{ instance_group.role }}</InstanceRole>
               <InstanceRunningCount>{{ instance_group.num_instances }}</InstanceRunningCount>
-              <InstanceType>{{ instance_group.type }}</InstanceType>
+              <InstanceType>{{ instance_group.instance_type }}</InstanceType>
               <LastStateChangeReason/>
               <Market>{{ instance_group.market }}</Market>
               <Name>{{ instance_group.name }}</Name>
@@ -1084,7 +1084,7 @@ def remove_auto_scaling_policy(self) -> str:
         {% endif %}
         <Id>{{ instance_group.id }}</Id>
         <InstanceGroupType>{{ instance_group.role }}</InstanceGroupType>
-        <InstanceType>{{ instance_group.type }}</InstanceType>
+        <InstanceType>{{ instance_group.instance_type }}</InstanceType>
         <Market>{{ instance_group.market }}</Market>
         <Name>{{ instance_group.name }}</Name>
         <RequestedInstanceCount>{{ instance_group.num_instances }}</RequestedInstanceCount>
diff --git a/tests/test_emr/test_emr_cloudformation.py b/tests/test_emr/test_emr_cloudformation.py
index 84bef4b25e4c..b9c2751d56a8 100644
--- a/tests/test_emr/test_emr_cloudformation.py
+++ b/tests/test_emr/test_emr_cloudformation.py
@@ -632,3 +632,195 @@ def test_create_cluster_with_kerberos_attrs():
         emr.describe_security_configuration(Name="mysecconfig")
     err = exc.value.response["Error"]
     assert err["Code"] == "InvalidRequestException"
+
+
+template_with_simple_instance_group_config = {
+    "Resources": {
+        "Cluster1": {
+            "Type": "AWS::EMR::Cluster",
+            "Properties": {
+                "Instances": {
+                    "CoreInstanceGroup": {
+                        "InstanceCount": 3,
+                        "InstanceType": "m3g",
+                    }
+                },
+                "JobFlowRole": "EMR_EC2_DefaultRole",
+                "Name": "my cluster",
+                "ServiceRole": "EMR_DefaultRole",
+            },
+        },
+        "TestInstanceGroupConfig": {
+            "Type": "AWS::EMR::InstanceGroupConfig",
+            "Properties": {
+                "InstanceCount": 2,
+                "InstanceType": "m3.xlarge",
+                "InstanceRole": "TASK",
+                "Market": "ON_DEMAND",
+                "Name": "cfnTask2",
+                "JobFlowId": {"Ref": "Cluster1"},
+            },
+        },
+    },
+}
+
+
+@mock_aws
+def test_create_simple_instance_group():
+    region = "us-east-1"
+    cf = boto3.client("cloudformation", region_name=region)
+    emr = boto3.client("emr", region_name=region)
+    cf.create_stack(
+        StackName="teststack",
+        TemplateBody=json.dumps(template_with_simple_instance_group_config),
+    )
+
+    # Verify resources
+    res = cf.describe_stack_resources(StackName="teststack")["StackResources"][0]
+    cluster_id = res["PhysicalResourceId"]
+
+    ig = emr.list_instance_groups(ClusterId=cluster_id)["InstanceGroups"][0]
+    assert ig["Name"] == "cfnTask2"
+    assert ig["Market"] == "ON_DEMAND"
+    assert ig["InstanceGroupType"] == "TASK"
+    assert ig["InstanceType"] == "m3.xlarge"
+
+
+template_with_advanced_instance_group_config = {
+    "Resources": {
+        "Cluster1": {
+            "Type": "AWS::EMR::Cluster",
+            "Properties": {
+                "Instances": {
+                    "CoreInstanceGroup": {
+                        "InstanceCount": 3,
+                        "InstanceType": "m3g",
+                    }
+                },
+                "JobFlowRole": "EMR_EC2_DefaultRole",
+                "Name": "my cluster",
+                "ServiceRole": "EMR_DefaultRole",
+            },
+        },
+        "TestInstanceGroupConfig": {
+            "Type": "AWS::EMR::InstanceGroupConfig",
+            "Properties": {
+                "InstanceCount": 1,
+                "InstanceType": "m4.large",
+                "InstanceRole": "TASK",
+                "Market": "ON_DEMAND",
+                "Name": "cfnTask3",
+                "JobFlowId": {"Ref": "Cluster1"},
+                "EbsConfiguration": {
+                    "EbsOptimized": True,
+                    "EbsBlockDeviceConfigs": [
+                        {
+                            "VolumesPerInstance": 2,
+                            "VolumeSpecification": {
+                                "Iops": 10,
+                                "SizeInGB": 50,
+                                "Throughput": 100,
+                                "VolumeType": "gp3",
+                            },
+                        }
+                    ],
+                },
+                "AutoScalingPolicy": {
+                    "Constraints": {"MinCapacity": 1, "MaxCapacity": 4},
+                    "Rules": [
+                        {
+                            "Name": "Scale-out",
+                            "Description": "Scale-out policy",
+                            "Action": {
+                                "SimpleScalingPolicyConfiguration": {
+                                    "AdjustmentType": "CHANGE_IN_CAPACITY",
+                                    "ScalingAdjustment": 1,
+                                    "CoolDown": 300,
+                                }
+                            },
+                            "Trigger": {
+                                "CloudWatchAlarmDefinition": {
+                                    "Dimensions": [
+                                        {
+                                            "Key": "JobFlowId",
+                                            "Value": "${emr.clusterId}",
+                                        }
+                                    ],
+                                    "EvaluationPeriods": 1,
+                                    "Namespace": "AWS/ElasticMapReduce",
+                                    "Period": 300,
+                                    "ComparisonOperator": "LESS_THAN",
+                                    "Statistic": "AVERAGE",
+                                    "Threshold": 15,
+                                    "Unit": "PERCENT",
+                                    "MetricName": "YARNMemoryAvailablePercentage",
+                                }
+                            },
+                        },
+                        {
+                            "Name": "Scale-in",
+                            "Description": "Scale-in policy",
+                            "Action": {
+                                "SimpleScalingPolicyConfiguration": {
+                                    "AdjustmentType": "CHANGE_IN_CAPACITY",
+                                    "ScalingAdjustment": -1,
+                                    "CoolDown": 300,
+                                }
+                            },
+                            "Trigger": {
+                                "CloudWatchAlarmDefinition": {
+                                    "Dimensions": [
+                                        {
+                                            "Key": "JobFlowId",
+                                            "Value": "${emr.clusterId}",
+                                        }
+                                    ],
+                                    "EvaluationPeriods": 1,
+                                    "Namespace": "AWS/ElasticMapReduce",
+                                    "Period": 300,
+                                    "ComparisonOperator": "GREATER_THAN",
+                                    "Statistic": "AVERAGE",
+                                    "Threshold": 75,
+                                    "Unit": "PERCENT",
+                                    "MetricName": "YARNMemoryAvailablePercentage",
+                                }
+                            },
+                        },
+                    ],
+                },
+            },
+        },
+    },
+}
+
+
+@mock_aws
+def test_create_advanced_instance_group():
+    region = "us-east-1"
+    cf = boto3.client("cloudformation", region_name=region)
+    emr = boto3.client("emr", region_name=region)
+    cf.create_stack(
+        StackName="teststack",
+        TemplateBody=json.dumps(template_with_advanced_instance_group_config),
+    )
+
+    # Verify resources
+    res = cf.describe_stack_resources(StackName="teststack")["StackResources"][0]
+    cluster_id = res["PhysicalResourceId"]
+
+    ig = emr.list_instance_groups(ClusterId=cluster_id)["InstanceGroups"][0]
+    assert ig["Name"] == "cfnTask3"
+    assert ig["Market"] == "ON_DEMAND"
+    assert ig["InstanceGroupType"] == "TASK"
+    assert ig["InstanceType"] == "m4.large"
+
+    as_policy = ig["AutoScalingPolicy"]
+    assert as_policy["Status"] == {"State": "ATTACHED"}
+    assert as_policy["Constraints"] == {"MinCapacity": 1, "MaxCapacity": 4}
+
+    ebs = ig["EbsBlockDevices"]
+    assert ebs[0]["VolumeSpecification"] == {
+        "VolumeType": "gp3",
+        "Iops": 10,
+        "SizeInGB": 50,
+    }