The most obvious way to explain these approximations is truncating the Taylor series about zero. If you haven't seen these, they're basically infinite series for the trig functions. In the case of sine and cosine, they are
$$\sin\theta = \sum_{n=0}^\infty \frac{(-1)^n \theta^{2n+1}}{(2n+1)!}\text{ and }\cos\theta = \sum_{n=0}^\infty \frac{(-1)^n \theta^{2n}}{(2n)!}$$
When \theta\approx 0, these approximations will get better and better for smaller numbers of terms. Where do they come from, you ask? Well, in many cases this is how mathematicians define sine and cosine. Otherwise it takes quite a bit of calculus to come up with these formulas, but you can check that they indeed work. Now, going back to \theta\approx 0, we write out the first term of sine and the second term of cosine (basically, we're taking terms with \theta^2 or lower exponents. We end up with, lo and behold
$$\sin\theta\approx\theta\text{ and }\cos\theta\approx 1-\frac{\theta^2}{2}.$$
Indeed, if you use a graphing program to graph this you get some very promising results around \theta = 0.
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The first image plots sine in black and f(x)=x in red, the second image plots cosine in black and its approximation in red. Amazingly, the approximations don't look so bad!
Of course, there are always geometric explanations too, but this is the slightly more sophisticated way to view the approximations.