1. A person, likely a male but not exclusive of females, who engages in sexual intercourse with both sexes. This is not a reserved to single encounters which include both sexes but rather a life style with ongoing relations between both sexes. The term is HIGHLY derogatory and as such applies to males more oft then females.
2. While 2way is a term to describe a person specifically it can also be used to replace items commonly referred to as "gay" in the same traditionally derogatory sense. It should be noted that it holds more overall offense compared to terms such as "gay", "faggot" or "queer" and when used to describe an item it trumps "ghey" as well.
1. "Keep to your own kind Johnny. I hope all of you 2way's die lonely!"
2. “These new biodegradable spoons are 2way sluts!"