  The brightest giant flare from the soft $\gamma$-ray repeater (SGR) 1806-20
was detected on 2004 December 27. The isotropic-equivalent energy release of
this burst is at least one order of magnitude more energetic than those of the
two other SGR giant flares. Starting from about one week after the burst, a
very bright ($\sim 80$ mJy), fading radio afterglow was detected. Follow-up
observations revealed the multi-frequency light curves of the afterglow and the
temporal evolution of the source size. Here we show that these observations can
be understood in a two-component explosion model. In this model, one component
is a relativistic collimated outflow responsible for the initial giant flare
and the early afterglow, and another component is a subrelativistic wider
outflow responsible for the late afterglow. We also discuss triggering
mechanisms of these two components within the framework of the magnetar model.
