A three-phase transformer can be constructed using two single-phase transformers through a "High Leg Open Delta" configuration. While three transformers are typically used for a complete three-phase system, the discussion highlights the feasibility of achieving three-phase output with just two. Additionally, a Scott-T configuration is mentioned as a method to create three-phase power from two-phase sources, emphasizing the need for true 90-degree phase separation rather than split-phase systems. The conversation underscores the versatility of transformer configurations in electrical engineering. Understanding these methods can enhance transformer application in various electrical systems.