A hand-held instrument comprising a writing utensil and associated handles interconnected to each other to allow a user to selectively position the writing utensil in either an extended position of use or a closed position of storage, as well as a variety of positions there between. The writing utensil may take a variety of forms, and the handles may incorporate additional devices or tools. The rotation of the handles about the writing utensil allows a user to manipulate the handles in a variety of ways, similar to that of a “butterfly knife” or similar device comprising balisong style openings. In one aspect of the invention, the writing instrument may be used to perform moves or tricks as a novelty device to provide entertainment and enjoyment to a user.