Tracking pixel
A tracking pixel is a tiny image or script that fires an HTTP request on a pageview or event, carrying the URL, referrer, timestamp, and identifiers to a collection server.

Historically a 1×1 image, today usually a JavaScript snippet. The request itself is the data: it carries the page URL, referrer, timestamp, identifiers, and an event payload like "Purchase, $89".
#A pixel sends; a cookie remembers
The two are constantly conflated and do opposite jobs. The pixel is the messenger: it transmits what just happened. The cookie is the memory: it stores an identifier so the next request is recognized as the same visitor. Pixels typically set cookies to work across visits, which is exactly where browsers now push back: script-set cookies capped at seven days on Safari, trimmed referrers, and blockers suppressing the request entirely.
In practice: Buron ships its own first-party pixel that collects on your domain into your warehouse. It is the anatomy above, operated as a product.
What a live pixel's request contains and what browsers strip from it: Tracking pixels: how they work and where they're going. The best-known instance has its own entry: Meta pixel.
Related terms
Conversions API (CAPI)
The Conversions API is Meta's server-to-server channel for conversion events: a second delivery route for the same events the pixel sends from the browser.
Meta pixel
The Meta pixel is Meta's JavaScript snippet that reports website events (PageView, Purchase, Lead) from the visitor's browser to Meta for measurement and optimization.
Third-party cookies
Third-party cookies are cookies set by a domain other than the one you're visiting: the basis of cross-site ad targeting, blocked by Safari and Firefox, kept by Chrome.