We develop a framework for analyzing signatures of isolated impurities in the magnetic noise profile near two-dimensional (2D) conducting materials that host them. The noise near an impurity is found to be suppressed compared to the background by an amount that is directly proportional to the cross-section of electrons/holes scattering off of the impurity. For a Kondo impurity, the suppression rises sharply below the Kondo transition temperature due to the formation of the Kondo peak, and saturates at a value that directly yields the zero-temperature occupation of the impurity site. We also discuss how magnetic noise measurements can be used to probe wave-vector dependent transport properties thus providing new insight into a broad range of correlated phenomena in 2D electronic systems. An experimental proposal for carrying out these measurements using Nitrogen Vacancy (NV) centers is outlined.