Favors' 3-point play in the final minute of regulation produced an 87-87 tie. He followed that with a block of Nate Robinson's drive with 7.9 seconds left to send the game to overtime.
The Jazz then heated up in the extra frame, outscoring Golden State 12-5 to wrap up their fifth straight home win.
Robinson scored 19 points, David Lee added 18 and Klay Thompson had 17 for the Warriors.
Notable deaths of 2014 [PHOTOS]
Arizona Cardinals player formally charged