1. Two bITs synonym for quarter, crumb, tayste. 2. A four-pack of anything (compare hex). 3. The rectangle or box glyph used in the APL language for various arcane purposes mostly related to I/O. Former Ivy-Leaguers and Oxford types are said to associate IT wITh nostalgic memories of dear old UniversITy (short for "quadrangle"). [Jargon File]