Let be the common point of the two circles. For sufficiently small , the open neighbourhood
has the following local structure: consists of four disjoint open arcs, an upper and a lower branch from each circle. These are its four connected components, each open and closed relative to .
Suppose a coordinate chart of some dimension of a manifold existed at . The case would make an isolated point, which it is not. For , shrink the chart inside so that its image is an open ball centred at the image of . Its domain of a function is an open neighbourhood of , so it meets all four arms of . Intersecting those arms with gives four disjoint nonempty clopen sets partitioning ; hence there are at least four connected components.
But a punctured ball in has exactly two connected components, and a punctured ball in for is path-connected. A homeomorphism preserves connected components, giving a contradiction in every dimension of a manifold. Thus is not a topological manifold. The argument uses arbitrarily small coordinate charts; the fact that the whole has two pieces alone would not be a local obstruction.

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