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The function is an inverse variation and its graph is a hyperbola. An inverse variation is a type of function where the product of the variables is a constant. In this case, the constant is 2, meaning that the product of x and y will always be 2.

The graph of this function is a hyperbola, which is a type of conic section. It is a set of points in a plane that can be described by a equation of the form y = a/x + b, where a and b are constants. The graph of the function y = 2/x is a hyperbola with its two branches extending out from the origin. The graph is symmetrical about the y-axis and as x increases, y decreases.

The hyperbola is a useful tool for visualizing the inverse variation between two variables. It can be used to illustrate how a change in one variable affects the other and to identify the constant of variation.