The first time I remember reading about it was on David Allen's book Getting Things Done, and honestly change many things. I am a believer that if more people would to focus less on other stuff and finish more two minutes items, we will all be a much happier crowd.
In my experience we have no clue how long are two minutes. I am constantly setting an alarm to use better that time, because it is always longer and allow me to do more than what I believe it is possible.
1.- Review my list of Next Actions
2.- Send a text to my wife and tell her that I love her very much
3.- Breath and enjoy Peace
4.- Pick the trash and take it out
5.- Learn a new word in the Dictionary
6.- Drink a glass of water to replenish myself
7.- Write a Thank You note
8.- Play: Paper, Rock, Scissors, Shot with my daughter
9.- Read a little bit more of the book I am currently reading
10.- Fast walk to make blood flow into my body
11.- Listen to a Power Song on the iPhone
12.- Play a move of Chess, LetterPress or Word with Friends
13.- Clean one of more of the items of my Next Action list
14.- Check the news * Not first thing in the morning or last thing at night
15.- Read one or more of my Instapaper articles
16.-Enjoy 2 minutes of silence *You don't know how long they are until you try this
17.- Stretch your body
18.- Clean your desk to continue working
19.- Purge your Wallet and dump the appropriate stuff in the Inbox
20.- Clean your glasses
21.- Do a mind dump * It feels great!
22.- Clean the screen of your devices
23.- Check the next two weeks of your calendar to spot land mines
24.- Process some items of your Inbox
25.- Close your eyes, relax and try to clean your mind
What else can you do in 2 minutes or less?