This paper investigates the impact of hardware transceiver impairment and imperfect interference cancellation on two-way full-duplex communication-based reconfigurable intelligent surface (RIS) systems. To apprehend the operating performance of RIS systems, closed-form and asymptotic expressions for the outage probability (OP) are derived. Accordingly, some useful technical insights regarding system operation and the user's diversity order are also revealed. Monte-Carlo simulations are presented to validate the theoretical analysis.