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multiplication  division 
This new transformer is the operation of multiplication and division combined.
2/3 of 100 (yards, eggs, pixels, dollars) means
hundred times two divided by three: (100 x 2) : 3 = 66.666...(yards, eggs, pixels, dollars)
Example of fractions as operator
Let's take a piece of rod, or a segment:
To say 3/5 of that segment means that we must first take 3 of such pieces, or better we can say we make 3 copies of it, like this
and then we divide those "copies" by 5 (precisely we divide  we partition  them in five equal parts and take only one)
Fractions are used in this way continously in every day activities like calculating the percentage of a discount when buying something, preparing a meal for more people than the recipee indicates, calculating the length of a boat you want to reproduce in a 1:28 scale, and so forth.
Source:
1 Elementary and Middle School Mathematics: Teaching Developmentally (7th Edition)
2. Teaching Fractions And Ratios For Understanding: Essential Content Knowledge And Instructional...
Picture with Cortesy of LAIST,
From fractions as operator concept back to basic algebra fractions
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