Abstract: A merchandise display apparatus which permits the full line of inventory to be displayed to customers while minimizing the space needed to display the goods and simplifying the process of purchasing a selected item. The merchandise display apparatus includes a display stand having a vertical support member about which a plurality of display panels are rotatably attached for a consumer to "flip" through the panels while browsing for goods. A plurality of small, display cut-out articles or tokens comprising a three-dimensional representation of the actual item are removably attached to the display panels surfaces such that a consumer selecting the item represented by the display article may remove the display article from a panel and present it to a sales clerk.