Knit 2 Together

From BluWiki

This is often abbreviated K2Tog in patterns and it's just like it sounds. You are knitting two stitches as though they were one.

Insert the needle through two stitches knitwise.

Wrap the yarn as if to knit.

Pull the yarn through both stitches.

Pop both stitches off the needle.

As you can see, K2Tog is a right leaning decrease.

The video demonstrating it is here.