We reported the observation of steplike drain current and the negative transconductance, in a field-effect transistor. Our transistor has a double-quantum-well channel, and the quantum well close to the surface is depleted. We demonstrate that the novel transistor characteristics are from tunneling of electrons in between two-dimensional quantum wells. The observed current-voltage characteristic in gate tunneling current has a large peak-to-valley ratio (380-1), which is close to an idealized delta functionlike behavior.