**Core Concept**
Adipocere formation is a process of post-mortem change where fatty tissues are converted into a soap-like substance. This process occurs in moist environments and is influenced by the presence of bacteria and enzymes that break down triglycerides into glycerol and fatty acids.

**Why the Correct Answer is Right**
Adipocere formation is a process of triglyceride hydrolysis, where bacteria such as Clostridium and Bacteroides produce enzymes like lipase to break down triglycerides into glycerol and fatty acids. The fatty acids then undergo further breakdown to form soaps. This process is facilitated by the presence of moisture and oxygen.

**Why Each Wrong Option is Incorrect**
**Option A:** This option is incorrect because adipocere formation does not require the presence of oxygen. In fact, adipocere formation can occur in anaerobic environments.
**Option B:** This option is incorrect because adipocere formation is a process that involves the breakdown of triglycerides, not the formation of new triglycerides.
**Option C:** This option is incorrect because adipocere formation is a process that occurs in moist environments, not dry environments.

**Clinical Pearl / High-Yield Fact**
It's worth noting that adipocere formation can be an important indicator of the post-mortem interval, as it can take several days to weeks for adipocere to form.

**Correct Answer: D.**