These options are defined for AVR implementations:
Instruction set avr1 is for the minimal AVR core, not supported by the C compiler, only for assembler programs (MCU types: at90s1200, attiny10, attiny11, attiny12, attiny15, attiny28).
Instruction set avr2 (default) is for the classic AVR core with up to 8K program memory space (MCU types: at90s2313, at90s2323, attiny22, at90s2333, at90s2343, at90s4414, at90s4433, at90s4434, at90s8515, at90c8534, at90s8535).
Instruction set avr3 is for the classic AVR core with up to 128K program memory space (MCU types: atmega103, atmega603, at43usb320, at76c711).
Instruction set avr4 is for the enhanced AVR core with up to 8K program memory space (MCU types: atmega8, atmega83, atmega85).
Instruction set avr5 is for the enhanced AVR core with up to 128K program
memory space (MCU types: atmega16, atmega161, atmega163, atmega32, atmega323,
atmega64, atmega128, at43usb355, at94k).