The
vanishing point (VP) can be placed anywhere and it
represents your eye level, so if the point is high
as in the above animation, you look down on the object.
If the VP is low, you will look up underneath the
object.
The
animation above shows 3 blocks being drawn in 2 point
perspective. The top block is seen from beneath as
the vanishing point (VP) is below it. The middle block
is on the VP which means you cannot see the top or
bottom. We are looking down on the bottom block as
the VP is set high for this object.