We present a single optical system that can simultaneously generate two linear polarized full-color images with orthogonal state of polarization. The system architecture of the optical core is discussed. Four liquid crystal on silicon panels are used to modulate both images. We also discuss the design of the illumination system with light emitting diodes as light sources. The contrast of both images is simulated. A proof-of-concept demonstrator is built and experimentally characterized. It is capable of two-dimensional and three-dimensional image display. Three-dimensional images can be perceived, independent of the tilt angle of the viewer`s head, by wearing specific polarization sensitive eyeglasses and placing a quarter-wave retarder at the projector`s output. Important component specifications are overviewed to improve the performance of the demonstrator setup.