The 4:3 aspect ratio comes from NTSC TV sets and the other electronics (camcorders, computer monitors, etc.) built around them. That, in turn, comes from the "Academy Ratio" of 4:3 that is the OAR for old films.
Common aspect ratios
1.25:1 -- 8 x 10 prints, 4 x 5 medium-format film cameras
1.33:1 -- NTSC TVs, digital P&S cameras, Four-Thirds system
1.40:1 -- 5 x 7 prints
1.41:1 -- European paper sizes (SQRT(2):1 is real convenient for scaling)
1.50:1 -- 35mm film, APS film, DSLRs with those sensor sizes, 4 x 6 prints
1.60:1 -- Widescreen Apple monitors (HDTV picture + menu bar on top)
1.66:1 -- Some Disney films
1.78:1 -- Widescreen HDTVs (16:9).
1.85:1 -- Many widescreen films. On disc, might be cropped to 16:9.
2.35:1 -- Many Westerns (e.g., "The Good, The Bad, & The Ugly")