Abstract: An adjustable jump rope apparatus allows easy and quick adjustment of the jump rope length by inserting and threading the jump rope through grooves around a ball-shaped bearing member, and then attaching the end of the jump rope to the body of the jump rope with a clip. The ball-shaped bearing member is rotatably retained within a hollow handgrip. Undoing the clamp and sliding the rope in either direction allows for a quick and easy jump rope length adjustment. A removable support structure enables the addition/removal of incremented weights to and fixes and supports the weights inside each hollow handgrip, thereby providing a weighted jump rope or even a dumbbell when a jump rope is not attached. Weight distribution is even as the weights extend substantially the entire length of the handgrip. The support structure also simultaneously assists in retaining the ball-shaped bearing member within the handgrip.