g-factor
The g-factor is a plain number that says how strong a particle's magnetic moment is for a given amount of spin. If spin and magnetism were related in the simplest classical way you might expect, the g-factor would be exactly one. It turns out that nature does not follow that naive expectation, and the deviation of g from the simple value is itself deeply informative.
For the electron's spin the g-factor is very close to two, not one. This factor of two was a genuine puzzle that classical thinking could not supply; Dirac's relativistic equation for the electron predicted it cleanly, which was one of that theory's great triumphs. The g-factor is therefore a bridge between the measured magnetism of a particle and the deeper theory that explains where it comes from.
Measured with exquisite care, the electron's g-factor is not exactly two but a little larger, by about one part in a thousand. That small excess comes from the electron constantly interacting with the seething quantum vacuum around it, and quantum electrodynamics predicts it to a dozen decimal places. The agreement between that prediction and experiment is one of the most precise tests in all of science, which is why this humble number is so prized.
Dirac's equation predicts g = 2; the tiny extra bit comes from interaction with the quantum vacuum.
The g-factor differs by particle and by whether the moment comes from spin or orbital motion. Orbital motion gives g near one, electron spin gives g near two, and protons and neutrons have their own quite different values.