Extraction is the action of removing something. For example, when the dentist yanks out your rotten tooth, the extraction is complete!
In addition to this wince-inducing meaning, the noun extraction is the process of separating out something from a chemical mixture or compound. Take decaffeinated coffee — the caffeine is removed by extraction, so you've got science to thank for not being jittery after breakfast. Extraction can also refer to your family background. If you are of Greek extraction, for example, your family history can be traced back to Greece.