Before proceeding an important component called a two way light switch is the main element of the 2 way switching irrespective of the type of wiring used. The 2 way switch or single pole double throw switch is a three terminal switch.
Wallpad Gold L6 3 Gang Triple Light Switch 1 Way 2 Way Brushed Gold Aluminum Metal Plate Push Return Button Blue Led Indicator
What is a 2 way switch. The single switch controls a single light or lighting circuit. Two way switch can be operated from any of the switch independently means whatever be the position of other switch onoff you can control the light with other switch. Its okay if this is too complex for you. A two way light switch is a simple single pole changeover switch with three terminals. A 2 way switch means there is another switch controlling the same light. A 2 way switching connection means you can control an electrical equipment like bulb by two switches placed at different places generally used in the staircase.
The three terminals are usually named com l1 and l2 but sometimes com 1 way and 2 way are also used. These are often used on a stair case large room with switches by each door. In one switch position the com terminal is connected to l1. In the other switch position it changes over so that com is connected to l2. It is a standard single pole switch with three terminals. A two way light switch is a switch that can be used in conjunction with another two way light switch to turn a light or lights on and off from more than one location.
These are typically labelled com l1 and l2 some may label the l1 and l2 positions as 1 way and 2 way. Here 1 terminal is the input and the other two are used as outputs.