The Two Hand Axe is a weapon made with:

3 Ingots

Two Hand Grip

Heat the Ingots and put them on the anvil. Hold down 'Z' while looking at the Anvil and select 'Axes' from the radial menu. Hit the heated ingots until they turn into a Double Headed Axe. This is the same recipe as the Pickaxe as they are variant of each other. To change the design just hit it until you are happy with the design then dip the axe head in the oil and bring it to the workbench to connect to the grip.