Abstract: A liquid dispensing closure mechanism installable on the neck portion of a plastic squeeze bottle to control the outflow of liquid from the bottle. In one form of the dispensing closure, a movable closure body has an open position and a closed position in which closed position the closure body fits tightly on the associated cap member. In another form of the dispensing closure, the movable closure body has two closed positions, in one of which the closure body fits tightly on the associated cap member, and in the other of which it fits loosely on the cap member, whereby it is readily movable to the open position with only slight manual effort. A twist lock feature is preferably utilized where a gas-tight seal is of major importance for containment of carbonated beverages.