A molded, plastic safety closure adapted for use on a nail polish bottle. Closure includes an inner cap, and an overcap that fits over the inner cap in a telescoping manner. Inner cap includes a hollow cylindrical section, a top wall, a plurality of teeth spaced about the top wall, a post extends upwardly from said top wall, and pawls are spaced around the post. Overcap includes a plurality of complementary teeth spaced about its interior, and vanes spaced around the interior of the overcap. The two sets of teeth are normally maintained apart by spring fingers that provide an upwardly directed biasing force. When the closure is subjected to a downwardly directed force, the two sets of teeth are brought in alignment, and the vanes and pawl cooperate to provide a ratchet mechanism. The inner cap and outer cap are rotated as a unit, and provide sufficient torque to unseat the closure, and allow access to the contents of the nail polish bottle.