The first time you launch Docker it might take a few minutes for it to initialize, so wait for it to complete before you proceed. Once installed and launched, you'll see a Docker status menu icon in the top-right of your display. You can download Docker Desktop for Mac and follow its installation instructions.
In case you already have Docker set up on your machine, you can skip to the next step.
Some familiarity with Terminal (I recommend iTerm for Mac, or cmder for Windows).I have also included how to easily download and import data from a Heroku-hosted Postgres database, although the same can easily be adapted for other hosting solutions too. This is by no means the perfect or one-and-only method, but it works for my specific needs, and might help you as-well. Here are my personal notes on how to set up Postgres locally using Docker.