FACET is the acronym for the Faculty Colloquium on Excellence in Teaching, a program designed to recognize, support, and enhance outstanding teaching on the eight campuses of Indiana University.

Facets are flat faces on geometric shapes. The organization of naturally occurring facets was key to early developments in crystallography, since they reflect the underlying symmetry of the crystal structure.  Gemstones commonly have facets cut into them in order to improve their appearance by allowing them to reflect light.