What does the operator `==` do in Python?

The operator == in Python is specifically used to check for equality between two values or expressions. When you use this operator, Python evaluates both sides and determines if they are equivalent. For example, if you have 5 == 5, the expression evaluates to True because both sides of the operator hold the same value.

This operator is fundamental in decision-making processes within your code, such as in conditional statements (like if-else constructs), where you need to compare values to execute specific blocks of code based on whether the comparison yields true or false. This functionality is central to logical operations and control flow in programming.

It's also important to note that the == operator does not perform assignment; it is purely for checking if two items are equal. Furthermore, it does not define or create new variables, nor does it compare variables exclusively based on their types unless both values are of the same type and value. In Python, if one were to compare different types with ==, it would return false only if the values are inherently different, thus maintaining a level of type-aware comparison.