A compact fiber tip modal interferometer (FTMI) based on two-wave interference has been demonstrated. Its fabrication process is very simple, just involving fiber tapering by a fusion splicer. The effective sensing area of the FTMI has a small length of ~310 μm. The interference spectra of the fiber tips with different size and profile have been analyzed. The FTMI has a good mechanical strength and high-temperature stability. It can be used for high-temperature and transverse load sensing simultaneously in a harsh environment when two different attenuation peaks are chosen to be monitored.