It uses cookies (more specifically, the SMSV cookie h/t @Tomer). Use chrome in normal mode and login with 2FA. Open an incognito session* of Chrome and it will be a "new device". The only difference between the two is that the latter doesn't have any cookies (maybe it also has a different set of extensions, but it is unlikely that Google is using browser fingerprinting*)
In fact, I am under the impression said cookie only lasts for 30 days.
*make sure that if you have any extensions, they are ALL allowed in incognito mode, and you will see there is no "browser fingerprinting", as per @David Houde's answer.