Abstract: A convertible sport and recreational accessory which is easily convertible for use either as a towel or as a tote bag. The planar towel configuration has an elongate, fabric body with a pair of side panels. Two opposed pairs of drawstrings are encased in seams arranged longitudinally and transversely which, when pulled, will form a pouch. The ends of the body and the side panels may be used as a cover or flap extending into the pouch opening or may be tucked into the pouch. Handles are provided for convenience when the combination towel/tote is in the tote mode or configuration.