Abstract: A retractable folding hanger device for attachment to a flat surface having a base member, an extension arm pivotally attached at the first end thereof to the base member, and a retention arm pivotally attached to the second end of the extension arm. Each of the frame members is preferably channel-shaped and dimensioned so that the retention arm is foldable into and nestable within the extension arm and the nested extension arm and retention arm are likewise foldable into and nestable within the base member. Suitable hinge pins provide the pivotal attachments to the device and solid-body or spring-biased stops hold the device in its open or deployed position. A magnet or a clasp is provided to secure the device in its closed or retracted position.