Two by twos are groups of two of something. For example, pairs of shoes or two apples. It's kind of like when you play a game with a friend and you need to split something evenly, you each get two of them.
In math, we use the term "two by twos" to talk about a certain type of matrix, which is like a special kind of table that has rows and columns of numbers. A two by two matrix has two rows and two columns, and each number is special because we use them to do some important calculations.
People use two by two matrices in many different ways, like in financial modeling, engineering, and scientific research. But don't worry if you don't understand that yet - just remember the basic idea that two by twos are simply pairs of things, or a special type of table with two rows and two columns of numbers.