Abstract: A device for dispensing mascara includes a container assembly for holding the supply of mascara and an applicator for dispensing an amount of mascara, the applicator being sized and shaped to penetrate into the container assembly. The container assembly includes a tubular container which is shaped to define an interior cavity into which the supply of mascara is stored. A funnel is disposed within an open neck in the container and includes a rigid member and a flexible member which together define an orifice. A button slidably disposed in the container can be manually depressed so as to urge against the flexible member of the funnel. Accordingly, depression of the button regulates the size of the funnel orifice through which the applicator passes and, in turn, the amount of mascara which is retained onto the applicator upon removal from the container assembly.