The present paper deals with twinning-induced plasticity (TWIP) steels with the microstructure refined by severe plastic deformation via equal channel angular pressing and explores the mechanical behavior of a steel with qualitatively different microstructures formed in the temperature range 400-900°C. Mechanical characteristics of a steel in different structural states are studied in static tensile tests, biaxial and dynamic tests. Structural changes in the material during severe deformation at different temperatures are discussed, and their effect on the mechanical parameters of TWIP steel is considered. High temperatures of equal channel angular pressing allow for more homogeneous recrystallized structures, which ensure the best combination of the yield stress, formability, plasticity, and crack resistance. These findings can be important in developing high-performance steels for the automotive and hydrogen industries.