Extremely red objects, identified in the early Spitzer Space Telescope observations of the bright-rimmed globule IC 1396A and photometrically classified as Class I protostars and Class II T Tauri stars based on their mid-infrared (mid-IR) colors, were spectroscopically observed at 5.5-38 μm (Spitzer Infrared Spectrograph), at the 22 GHz water maser frequency (National Radio Astronomy Observatory Green Bank Telescope), and in the optical (Palomar Hale 5 m) to confirm their nature and further elucidate their properties. The sources photometrically identified as Class I, including IC 1396A:α, γ, δ, , and ζ, are confirmed as objects dominated by accretion luminosity from dense envelopes, with accretion rates 1-10 × 10^–6 M yr^–1 and present stellar masses 0.1-2 M . The Class I sources have extremely red continua, still rising at 38 μm, with a deep silicate absorption at 9-11 μm, weaker silicate absorption around 18 μm, and weak ice features including CO₂ at 15.2 μm and H₂O at 6 μm. The ice/silicate absorption ratio in the envelope is exceptionally low for the IC 1396A protostars, compared to those in nearby star-forming regions, suggesting that the envelope chemistry is altered by the radiation field or globule pressure. Only one 22 GHz water maser was detected in IC 1396A; it is coincident with a faint mid-IR source, offset from near the luminous Class I protostar IC 1396A:γ. The maser source, IC 1396A:γ _b , has luminosity less than 0.1 L , the first H₂O maser from such a low-luminosity object. Two near-infrared (NIR) H₂ knots on opposite sides of IC 1396A:γ reveal a jet, with an axis clearly distinct from the H₂O maser of IC 1396A:γ _b . The objects photometrically classified as Class II, including IC 1396A:β, θ, Two Micron All Sky Survey (2MASS)J 21364964+5722270, 2MASSJ 21362507+5727502, LkHα 349c, Tr 37 11-2146, and Tr 37 11-2037, are confirmed as stars with warm, luminous disks, with a silicate emission feature at 9-11 μm, and bright Hα emission; therefore, they are young, disk-bearing, classical T Tauri stars. The disk properties change significantly with source luminosity: low-mass (G-K) stars have prominent 9-11 emission features due to amorphous silicates while higher-mass (A-F) stars have weaker features requiring abundant crystalline silicates. A mineralogical model that fits the wide- and low-amplitude silicate feature of IC 1396A:θ requires small grains of crystalline olivine (11.3 μm peak) and another material to to explain its 9.1 μm peak; reasonable fits are obtained with a phyllosilicate, quartz, or relatively large (greater than 10 μm) amorphous olivine grains. The distribution of Class I sources is concentrated within the molecular globule, while the Class II sources are more widely scattered. Combined with the spectral results, this suggests two phases of star formation, the first (4 Myr ago) leading to the widespread Class II sources and the central O star of IC 1396 and the second (less than 1 Myr ago) occurring within the globule. The recent phase was likely triggered by the wind and radiation of the central O star of the IC 1396 H II region.