dougbcave describes in a negative light someone who cannot spell on a PDA or who constantly misspells words on a PDA. Similar to the term fat finger but with the added connation that the person sending the misspelled message does not even care to correct their mistakes and is likely a douchebag themselves.
The origin of the word is from someone attempting to reply with the word douchebag from a PDA but because of fat finger typo the person botched the spelling so completely that the result was dougbcave.
Person 1: Could you understand that email Jim sent? It was full of typos.
Person 2: He's a total dougbcave and half the stuff he sends from his crackberry is incomprehensible because he is like driving, texting and drinking red bull at the same time.
Deriving from the "Shave and Hair cut, two bits" jingle, "Two bits" refers to a woman who does not shave/wax/remove body hair on legs, arm pits, facial hair, etc. The words two bits are used alone to reference the jingle with the implication that a shave/wax/haior removal is in order.
(At the beach)
Man 1: "Look at the hair on her thighs"
Man 2: "Yeah, two bits allright"