Meaning of the word "three way" in English

What does "three way" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

three way

US /ˈθriːˌweɪ/
UK /ˈθriːˌweɪ/

Adjective

having three possible directions, options, or components

Example:
The intersection has a three-way stop sign.
They reached a three-way agreement.