Let $S_n$ denote the group of permutations on $n$ symbols. For a fixed pair $1\leq l<m\leq n$ and consider the subset $$S_n(l,m)=\{\sigma\in S_n: \sigma(1)=l, \sigma(2)=m\}.$$ Then $S_n(l,m)$ can be identified with the group $S_{n-2}$ (right?).
Now if I pick an element $\sigma\in S_n(l,m)$ it will corresponds to a unique element $\tau \in S_{n-2}$. The question is how do I relate the signature of $\sigma$ with the signature of $\tau$? I was hoping that the signature of $\tau$ will depend on $l$ and $m$ (actually what I had in mind is that $\text{sgn}(\tau)=(-1)^{l+m}\text{sgn}(\sigma))$ but I'm not quite sure how to start proving this.
As in my comment, $S_n(l,m)$ is not a subgroup of $S_n$ when $(l,m)\neq (1,2)$.$\newcommand{\sgn}{\text{sgn}}$ The formula $\sgn(\tau)=(-1)^{l+m}\sgn(\sigma)$ is definitely wrong because if you swap $l$ and $m$, the $\sgn(\sigma)$ changes, but $\sgn(\tau)$ does not change. Try $(n,l,m)=(3,1,2)$ and $(n,l,m)=(3,2,1)$.
The most natural identification (though not necessarily a group isomorphism) from $S_n(l,m)$ to $S_{n-2}$ is simply $\sigma\mapsto \sigma|_{\{3,\dots,n\}}$. Denote this map by $\varphi$.
Denote by $N(\sigma)$ the number of inversions of $\sigma$. Denote by $M_\sigma(i)$ the number $$|\{(i,j):i< j\le n, \sigma(i)>\sigma(j)\}|.$$ For all $\sigma\in S_n(l,m)$, we have $$ N(\sigma)=M_\sigma(1)+M_\sigma(2)+N(\varphi(\sigma)). $$ Therefore, $$ \sgn(\varphi(\sigma))=(-1)^{M_{\sigma}(1)+M_{\sigma}(2)}\sgn(\sigma). $$