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We present a phenomenological Green's function to characterize the superconducting and pseudogap phases of the cuprates based on a microscopic theory of doped Mott insulators. In this framework, the “Fermi-arc” and “kink” phenomena observed by angle-resolved photoemission spectroscopy experiments in the pseudogap phase can be systematically explained as a function of doping, which are further connected to the two-gap feature in the superconducting phase with dichotomy between the nodal and antinodal physics. We demonstrate that a phase-string-induced fractionalization plays the key role in giving rise to such a peculiar Green's function with a unique two-component structure.