We find that a kind of atomic coherent state, formed as exp[ξJ+ – ξ*J−] |00〉, when the SU(2) generators J± are taken as Fan's form, J+ = (1/2)(a1 – a2†)(a1† – a2), J− = (1/2)(a†1 + a2) (a1 + a2†), and J0 = (1/2)(a1†a2† – a1a2), is simultaneously a two-mode squeezed state. We analyse this squeezed state's physical properites, such as the cross-correlation function, the Wigner function, and its marginal distribution as well as the Husimi function.