It literally translates to "all of us two", but it's a common way to express "we both" in French.
Here's a breakdown of the words:
* Toutes: all (feminine plural)
* nous: us
* deux: two
Here are some examples of how "toutes nous deux" can be used:
* "Nous allons au cinéma, toutes nous deux." (We are going to the cinema, both of us.)
* "Elle a acheté des gâteaux, toutes nous deux." (She bought cakes, both of us.)
* "On a bien ri, toutes nous deux." (We had a good laugh, both of us.)
The phrase "toutes nous deux" is used when referring to two female subjects. If you're talking about two male subjects, you would use "tous nous deux" instead.