What does Two-Bit give Dally in the hospital?

In The Outsiders, Two-Bit gives Dally his switchblade when he and Ponyboy visit Dally in the hospital. When Ponyboy and Two-Bit go to see Dally after the church fire, Dally is upset about missing the rumble and asks for it. Two-Bit immediately hands it over.

This moment shows how loyal the greasers are to one another, as Two-Bit doesn’t hesitate to give up something he values and cherishes. It also matters for the plot, because Dally later uses that same switchblade to escape the hospital and go fight in the rumble. The exchange highlights the greasers’ code of sticking together and supporting one another, even when doing so leads back into violence rather than away from it.