Just another way of doing it should you require to do it over a larger range of columns
using applymap
df[['var1','var2']] = df[['var1','var2']].applymap("{0:.2f}".format)
df['var3'] = df['var3'].applymap(lambda x: "{0:.2f}%".format(x*100))
applymap is useful if you need to apply the function over multiple columns; it's essentially an abbreviation of the below for this specific example:
df[['var1','var2']].apply(lambda x: map(lambda x:'{:.2f}%'.format(x),x),axis=1)
Great explanation below of apply, map applymap:
Difference between map, applymap and apply methods in Pandas