I couldn't find a correlation with questions I've answered or marked as favorite. Just curious.
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If you answer a question with the tags "Dog", "Cat" and "Beaver" and you get at least +1 on your answer, your profile will then show "Dog", "Cat", and "Beaver" for your tags.
If you ask a question with the tags "Dog", "Cat", and "Beaver" and you get at least +1 on your question, your profile will be updated to show "Dog x2", "Cat x2" and "Beaver x2"
The pattern continues as you continue to answer questions and ask your own questions with the variety of tags out there. The more answers and questions you have for a specific tag, the higher the number will climb.
Everytime you answer a question the cardinality of all the tags in that question get +1'ed on your profile. I am not sure if that same happens with questions you ask, though. So in your SO profile you have python 2x, because 2 of your answers were on questions tagged python, and so on.