Abstract: A rotary exerciser including a frame assembly having an upper and a lower sleeves and a polished stem connected to middle sections of the sleeves to form an I-shaped pattern. Each sleeve is formed with two axial slots on two sides. Two locating sleeves are fitted around the stem and locked by locating screws. The exerciser further includes left and right M-shaped members each of which is composed of first and second opposite solid members each having a 90 degrees bight section. An end of the solid member is formed with radial thread hole and inserted into the upper and lower sleeve and adjustably locked in the axial slot thereof. The bight sections of the solid members are connected by an inward arched tube to define an open portion. Two ring-like grips are rotatably disposed in the open portions. Several weights are fitted around the stem, whereby a user can grip the handles of the grips with both hands to push forward, lift, obliquely push and revolve the exerciser.