Green’s Dictionary of Slang

two-dollar adj.

1. expensive.

[US]S. Ford Shorty McCabe 132: I’ve stopped at lots of two-dollar houses that would have looked like Bowery lodgings alongside of that stable.
[US]J. Breslin World of Jimmy Breslin (1968) 194: A two-dollar bum typewriting non-novels.

2. (US) second-rate [var. on two-cent adj.].

[US] in J. Breslin Damon Runyon (1992) 15: In my husband’s movie he is a two dollar bum.
[US](con. 1972) Jurgenson & Cea Circle of Six 61: I was now given the plain facts: my wife—the job—was a two-dollar whore.

In compounds

two-dollar words (n.) (also five-dollar words, …expressions, six-bit words)

(US) any language considered ‘difficult’ or ‘intellectual’, most likely by a speaker who claims to despise such locutions.

Century Mag. (N.Y.) 68: He hated what he called ‘two-dollar words’ and ‘high hat’ manners [DA].
[US]J. Weidman I Can Get It For You Wholesale 334: When it comes to slinging the five-dollar words, I’m as good as any lawyer.
C. Brackett & B. Wilder Ball of Fire [film script] I’m gonna use some of those two-dollar words hollering my papers.
[US]A. Kober Parm Me 115: Five-dollar words she’s using!
[US]T. Thursday ‘Raw, Medium, and Well Done’ in Blue Ribbon Western June 🌐 You may have picked up a load of five-and-ten buck words since I saw you last, but you and me was born on the same side of the tracks.
[US]B. Schulberg Harder They Fall (1971) 99: All them five-dollar expressions, nobody knows what you’re talkin’ about.
[US] in P.R. Runkel Law Unto Themselves 93: You guys are always talkin’ in those fancy six-bit words like ‘conscience.’.