Two phase is what you get if you connect one winding directly across the single phase AC mains, and connect the starter winding (physically spaced 90º apart from the main winding) through a phase shift capacitor, of such a value that the current is phase shifted about 90º as well.
Three phase motors have windings spaced 120º mechanically, and if run off a single phase supply also need a phase shift capacitor. They are then also run as two-phase machines (with less efficiency than if they had a true 3 phase supply), but the physical winding arrangement demands a different phase shift capacitor to more closely match the electrical phase shift with the mechanical phase shift.
IF it was originally configured a a capacotor-start/capacitor-run motor, that would account for five wires. But that configuration is very unusual in such a small motor.