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Upon creation of the Constitution, the Federalists and Anti-Federalists emerged. These were the first two parties of the American system.
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Jefferson defeats J. Adams for the Democratic Republicans. This leads to the fall of Federalism.
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Jackson's supporters, or Jacksonian Democrats, take over the white house from the Jeffersonian Democrats. This marked the transition to the second party system.
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The Whigs participate in an election for the first time. This puts a "Third Party" in the mix.
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Many Ideals of the Liberty party were absorbed into the Modern Republican Party. This is when different parties start bleeding together.
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Lincoln was a candidate for the Modern Republican Party. Because of him, the Whig, Liberty, and Free Soil parties all merged under the Republican hood.
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The Democrats finally regained a base of voters after the war. They expanded their outreach to farmers and other rural citizens.
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The Civil War crippled the Modern Democratic Party. This left the Republican Party standing alone for almost 75 years.
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After Roosevelt's presidency, the two major parties were set in stone. Democrats and Republicans were only the result of other parties coming together under common interests. They are almost untouchable in modern elections.