A reference to a late 90s TV ad for iMac, where Jeff Goldblum detailed "three easy steps to connect to the internet", then realised that he had been a fool and that there was no step three.
Bill: Hey Eric, how can I arouse myself?
Eric: Step 1: Pull down your pants.
Step 2: Jack off until you cum.
Step 3: There's no step three!
Bill: Thanks!
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The procedure a person follows to drive a car with manual transmission.
"Three pedals," from left to right: Clutch, Brake, Accelerator.
"Two-step": Ordinarily, a couples' dance step.
"C'mon... I'll teach you how to do the three-pedal two-step."
A fraise used when some one plans on doing something stupid/reckless
"Dude he is three steps behind crazy if he thinks he'll make that jump"