A Whore, Hoe or Hooker. 2 bits is refering to 2 coins(or quarters), which is saying to the women she is cheap and you can have it for pocket change.
She's a 2 bit.
by NOBODY September 06, 2003
two bits refers to spanish pieces of eight where two bits would be a quarter of it. The saying has remained to mean a quarter.
by Sarlacc July 13, 2004
when one has a middle parting and two bits of annoying hair hanging down either side of the temple/eyebrow
"shut up 2 bit"
by vinnyissexy January 31, 2009