This is the 28th most frequent French word.
faire
"Faire" means "to do" or "to make."
In this sentence, 'faire' is used to express the act of making or creating something, specifically a cake.
Je vais faire un gâteau pour l'anniversaire.
I am going to make a cake for the birthday.
Here, 'faire' is used impersonally to describe the weather, a common usage in French.
Il fait froid aujourd'hui, alors habille-toi chaudement.
It is cold today, so dress warmly.
In this example, 'faire' is used to denote engaging in an activity, in this case, taking a walk.