In Python, floor division is the process of dividing two numbers and returning the quotient as an integer by rounding down the result to the nearest integer. The ‘//’ operator is used for floor division in Python.

For example, consider the following code:

```
print(10 // 3) # 3
```

As you can see, the line of code uses the ‘//’ operator to perform floor division and returns the quotient as an integer (3).

It’s also possible to use the math.floor() function to perform floor division.

```
import math print(math.floor(10 / 3)) # 3
```

It’s worth noting that in Python 2, the ‘/’ operator performs floor division if both operands are integers.

However, it’s generally recommended to use the ‘//’ operator or math.floor() function for floor division in Python 2 and Python 3 to avoid confusion and ensure that your code works correctly across different versions of Python.

In contrast to the true division operator ‘/’ that returns a float, floor division rounds down the division result to the nearest integer, it returns an integer.

```
print(10 / 3) # 3.333333
```

In summary, floor division in Python is the process of dividing two numbers and returning the quotient as an integer by rounding down the result to the nearest integer. The ‘//’ operator is used for floor division by default in Python 3.

In Python 2, the ‘/’ operator performs floor division if both operands are integers. It’s also possible to use the math.floor() function to perform floor division.

It’s always recommended to use the ‘//’ operator or math.floor() function in Python 2 and Python 3 to ensure that your code works correctly across different versions of Python.