Stewie's sequence: + * - / + * - /
Haskell, 69 68 64 bytes

x#n=take n$x++zipWith3 id(cycle[(+),(*),(-),(/)])(x#n)(tail$x#n)


x1 and x2 are taken as a list. Usage example: [1,3] # 8 -> [1.0,3.0,4.0,12.0,-8.0,-1.5,-9.5,14.25].

Laziness makes it possible to define an infinite recursive list where we take the first n elements.

Haskell, 66 bytes

(h%g)y x=x:g(h x y)y
a=(+)%b
b=(*)%c
c=(-)%d
d=(/)%a
(.a).(.).take 


Different approach, slightly longer. Argument order is N, x2, x1. Usage example: ( (.a).(.).take ) 8 3 1 -> [1.0,3.0,4.0,12.0,-8.0,-1.5,-9.5,14.25].

Defines 4 functions a, b, c and d which take two arguments y, x  and make a list by putting x in front of a call to the next function with y as the second argument and x op y as the first. For example a is: a y x = x : (b (x+y) y), b does multiplication: b y x = x : (c (x*y) y), etc.

Edit: @Michael Klein saved a byte in the 1st variant (#). Luckily I also found one byte for the second variant, so both have the same length again.

Edit II: @Zgarb found 2 bytes in the second version to save, and I 4 in the first, so they are no longer of the same length.