For a morphism $f:X\rightarrow Y$, locally free sheaf $\mathcal{G}$ on $Y$, and a quasi-coherent sheaf $\mathcal{G}$ on $X$, we have the projection formula $$f_*(\mathcal{F}\otimes_{\mathcal{O}_X}f^*\mathcal{G})\simeq f_*\mathcal{F}\otimes_{\mathcal{O}_Y}\mathcal{G}.$$
I don't have a problem proving this, but I have a hard time seeing it as a projection! This looks more like compatibility of pushforward with base change if we take $\mathcal{G}=\mathcal{O}_Y$. What is the motivation for calling it the projection formula?