Fairing is one of the most effective devices to suppress vortex-induced vibration (VIV) of marine risers. However, when the rotational friction coefficient of the fairing device is too high to rotate, severe galloping oscillations occurs. In this paper, a two-dimensional mass-spring-damping system was constructed based on the commercial software ANSYS. The galloping mechanism and the two degree-of-freedom (DOF) galloping characteristics of the fairing were studied by numerical methods. In particular, the influence of the natural frequency ratio of the in-line (IL) direction and the cross-flow (CF) direction on the galloping oscillation was discussed. The mass ratio of the riser-fairing system for which the simulations were performed was 1.7, and the damping ratio was 0.003. The Reynolds number based on the cylinder diameter and the inflow velocity was 1000. The range of reduced velocities based on the natural frequency in the CF direction was 1.76–18.52. The results showed that the activation of the inherent modes of the structure and the reattachment of the shear layer in the wake had an important contribution to the generation of the galloping. The movement in the IL direction could promote the reattachment of the shear layer to a certain extent, thereby expanding the scope of the galloping conditions. When the natural frequency ratio was equal to 1 or 2, a “double peak” phenomenon was found in the vibration amplitude curve in the CF direction. In the 2-DOF vibration, the fairing moved in the shape of an “8″ or a drop-shaped trajectory in most cases. On the whole, the interaction between the movement of the fairing in the IL direction and the movement in the CF direction could not be neglected, and the natural frequency ratio also significantly affected the vibration characteristics.