Functions in general are way complicated. Polynomials on the other hand are fairly simple and well-understood. So it would be pretty cool if we could write every function as a polynomial, right?
Taylor series try to do this step-wise. First you pick a point that you're interested in and take a very simple polynomial that looks like your function at that point. Then, to correct for this very simple polynomial becoming very dissimilar to your function further away from that point, you make it slightly more complicated. Then you correct again, and again, and again... And every time your approximation becomes better. After 'infinitely many corrections', it becomes perfect! The practical value of Taylor Series though is that a fairly rough approximation is usually good enough.
A valuable example is doing the Taylor Series of a polynomial. Yes, it sounds stupid, because we'll just get the original polynomial back, but maybe it'll help you grasp the concept. (I'll skip the steps where I calculate the coefficients, that you'll have to do yourself.)
We want to approximate, let's say, x^4 + 3x^3 - x^2 - 10x + 3, at the point 0.
First we take a very simple approximation: 3. Works fine at 0, sucks pretty much everywhere else.
Refining this, we get -10x + 3. Better, but not great.
Then we get -x^2 - 10x + 3. Hey, it's starting to make wobbles and everything - we're getting somewhere!
Then comes 3x^3 - x^2 - 10x + 3. Aaaaalmost good, but still weird far away from our point of interest 0.
The next approximation, x^4 + 3x^3 - x^2 - 10x + 3, is pretty good though!
Try doing this explicitly - calculating the coefficients, not just reading them off! - for, I dunno, x^3 - 4x^2 + 2x + 1.