Abstract: A pen/highlighter having an integral retractable tethered bookmark comprising a double-ended writing instrument having a ball point pen at a first end and a highlighter at a second end is disposable and replaceable, thereby allowing a user to refill the device with common refills comprising different color inks. A pen cap portion comprises a tethered interchangeable bookmark depicting such items as a charm, a school or corporate logo, a sports team logo, an entertainment or musical icon, among others. A thin retractable cord connects the bookmark to the device providing a retracting mechanism within the pen cap. An internal locking device secures the bookmark at a maximum extended length as well as variable partial lengths. In such a manner, the cord can be used to mark a page in a book while the bookmark hangs out of a bottom portion of said book.