The level structure of the odd-odd iodine nucleus 122 I has been studied by the 120 Sn ( 7 Li, 5n) 122 I reaction at E lab = 58 MeV. Two chopped beams from the 14UD (Unit Doubled) tandem heavy-ion accelerator at the Australian National University were used; one was a nanosecond (ns) pulsed-beam with separation of 1.7 microseconds (ΞΌs) and the second one was a 60-ΞΌs beam separated by 880 ΞΌs. Through in-beam and out-of-beam Ξ³ -ray spectroscopy, the complex proton-neutron multiplet states, including isomers with half-lives of a few tens of ns to a few tens of ΞΌs, have been identified. Collective states based on the proton h 11/2 orbital exhibit two kinds of structure depending upon the coupled neutron orbital: a quadrupole vibration when involving the h 11/2 orbital and a Ξ³ -soft deformed rotation when involving the g 7/2 orbital. With spherical shell model and deformed shell-model calculations, the observed level structures are explained.