1. To divide or to branch into two directions: Blood vessels and nerves are two examples of body parts that bifurcate.
2. To split or to separate into two parts or directions: As Jane was driving through the forest, the road she was driving on suddenly bifurcated and she noticed that if she were to go to the right, it would take her up the hill; however, if she were to turn to the left, she would be going down the hill

This particular illustration from Google images provides an example of bifurcating a symbol on a sign so it shows drivers on a highway that the road will be splitting into two directions.