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1.
Two points is an expression meaning “nice shot”. It originally rose from basketball, but has come to be used in many situations where someone demonstrates skill at hitting a target. Also used in a sarcastic sense when someone does something profoundly clumsy.
Example One
Guy 1: Ouch (After ramming his bike into a hydrant, and flying over the handlebars).
Guy 2: Two points.

Example Two (shamelessly stolen from DM of the Rings)
Legolas: I fire another arrow!
DM: You hit Saruman with the arrow.
DM: He swoons and falls from the balcony.
DM: And lands on this spikey thing at the bottom.
DM: HAPPY NOW BUTCHER?
Aragorn: Two points.
Legolas: Even though he fell, I still get XP right?
by NickUK May 09, 2007
 
2.
To put out or short a blunt.
"Do you want to hit this?" "Na' two-points."
by ounzer September 26, 2006
 
3.
To put out or short a blunt.
"hey you want this?" "Na, two-points."
by ounzer September 27, 2006