Context is a way to choose what you are going to do with your canvas.
For a minute you can use getContext for 2d (2dcanvas) or for 3d (WebGL).
The HTML5 specification talks about getContext: "Returns an object that provides an API for drawing on canvas. The first argument indicates the desired API. Subsequent arguments are processed by this API."
API:
http://wiki.whatwg.org/wiki/CanvasContexts
, "webgl" API, , , "experimental-webgl", WebGL.