A lipid made of a phosphate group and two fatty acids is called a phospholipid.

Here's why:

* Phospholipid: These are the primary components of cell membranes. They have a unique structure with a hydrophilic (water-loving) head containing the phosphate group, and two hydrophobic (water-fearing) tails formed by the fatty acids. This structure allows them to form the lipid bilayer, which is the foundation of cell membranes.