Abstract: A convertible retaining ring pliers has a pivot, first and second jaws and first and second handles rotatably secured about the pivot. A pair of transfer pins is slidably disposed for selective movement in the jaws and the handles for establishing alternative operating positions enabling the jaws to move either inwardly or outwardly as the handles move inwardly. A switching mechanism is provided for simultaneous shifting of the transfer pins in the jaws and the handles. The switching mechanism includes reaction member housing assemblies which are mounted on opposite ends of the pivot and disposed on opposite external surfaces of the handles. A switchplate structure is rotatably mounted for side-to-side movement about the pivot, and is slidably positioned between at least one reaction member housing assembly and the external surface of one of the handles.