'two-color' originates from Old English and Latin (via Old French), specifically the Old English word 'twā' (meaning 'two') and the Latin word 'color' (via Old French 'colour'), where 'twā' meant 'two' and 'color/colour' meant 'hue, appearance'.

'two-color' developed as a compound of 'two' (from Old English 'twā') and 'color' (from Latin 'color' through Old French 'colour') in Middle and Modern English; British usage often appears as 'two-colour' while American usage appears as 'two-color'.

Initially it referred straightforwardly to the combination of 'two' + 'color' (i.e., something made of two hues); over time the compound retained that basic meaning and came to be used both descriptively (adjective) and nominally (a two-color print or item).