@tfblum noticed that the save button always saves images in the png format. In plt.rcParams['savefig.format'], one can specify the default saving format of plt.savefig, and it would be nice if the save button respected that.
That said, I think maybe the on-screen generated image already is a png? There are two references to "png" in the codebase:
nbagg-backend, handle_save and handle_binary