Two-bit is from early
american times when money was sperated in "bits" equal to about 12.5 cents a piece,
a common price for alot of items was
two-bits, or 25 cents. Thus, an old-fashoined way of identifiyng someone as a 25-cent whore.
A guy walks in and sits down at a bar. The side of his face is bruised and bleeding so
the bartender asks, "What in the world happened to you, buddy?".
The guy says, "Oh, I got in a fight with my
girlfriend and I called her a two-bit whore." "Yeah?" asks
the bartender. "What did she do?"
"She hit me with her bag of quarters!"