I'm terrible when it comes to technology, but I think there may be something similar to what I'm looking for I just don't know what it's called.

I'm looking for some type of sensor that has two parts, both parts with the capability to detect the proximity to a its counterpart and possibly make a noise or something when they come within range of each other. Does this have a name? Or am I totally losing my mind here?

You are hunting for a Proximity Sensor, not knowing your actual use for the sensor, the distance and other environmental concerns you will need to do additional resurch. You can Google "Proximity Sensor" and finf manufactures and retailers who should be able to help you with your question.

Awesome thanks a million! I think that's exactly what I'm looking for!