Abstract: A plastic retractable pavement marker/reflector having a base with a freely rotatable depressable cap projecting upwardly therefrom. A neoprene material or some other non-absorbent flexible material is used to fill the cavity inside the base, thereby keeping out debris and other substances to make sure the cap remains depressable. After being compressed by the depressable cap, the neoprene material expands back to its original size, thereby forcing the cap to return to its original position projecting upwardly from the base, again making the cap visible from all directions.