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|2 is pronounced "Pipe Two" for obvious reasons, one being the first character is a pipe, the second is a number two.

Origionally derived from the word "Respect" spelt in 1337; |235|*(7 - the phrase "Pipe Two" or just "Pipe" is used to express joy or gratitude towards an object or indivudual.

Warning: Only use this word if you are leet, or |2 sock will 0wn j00!
Man, |2! |2!!11111111

That is so not pipe two...

PIP3!!!
|2 by r3n October 31, 2004
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The letter "r"
OMG d00d T|-|4t |20x0|2'd 2 th4 m4x!
|2 by pants May 1, 2003
Related Words

|-|/-\><()|2 

The best of the H4X0R variations of hacker. Used by someone who wants to make it clear that they take the term seriously. AKA a sad sad individual
If these "1337 |-|/-\><()|25" keep up with these dos attacks I will kill them with a knife.
|-|/-\><()|2 by Chunky B July 18, 2006
Pronounced "reet". A mix between engrish and 1337. A |2337 phrase occurs when a Japanese individual says something in an attempt to sound 1337. Usually he/she learns this phrase from hanging out with true 1337 4/v\3|2|C4/\/ |-|4XX0|25. The phrase comes out of the Japanese person's mouth sounding completely wrong or coming out at the completely wrong time, due to the Japanese accent, a weak grasp on a fast paced American teenager conversation, and/or a lack of knowledge of when to drop a computer term in RL speak while still sounding 1337.
Guys who've mastered 1337: "blah blah blah...Oh wow, that's pretty weird dude."

Takashi (out of nowhere):"yeah......daabuuyouuuu teeeee ehhhhhffff....hehehe"

*1337 guys look uncomfortably at Takashi/each other (because Takashi is still their friend). An extremely awkward silence follows*

1337 guys (to themselves): God, Takashi is so facking |2337. Yeah, lawl.
|2337 by Silverant May 22, 2006