We provide a finite equational presentation of graphs of treewidth at most three, solving an instance of an open problem by Courcelle and Engelfriet. We use a syntax generalising series-parallel expressions, denoting graphs with a small interface. We introduce appropriate notions of connectivity for such graphs (components, cutvertices, separation pairs). We use those concepts to analyse the structure of graphs of treewidth at most three, showing how they can be decomposed recursively, first canonically into connected parallel components, and then non-deterministically. The main difficulty consists in showing that all non-deterministic choices can be related using only finitely many equational axioms.