A thermochromic opaque composition comprising a dispersion in a vinyl chloride-vinyl acetate copolymer matrix resin of a reversible thermochromic material which is a homogeneous fused composition comprising, with respect to 6 parts by weight of the vinyl chloride-vinyl acetate copolymer resin, (a) 0.05 to 2.0 parts by weight of an electron-donating color-developing organic compound, (b) 0.1 to 3.0 parts by weight a compound having a phenolic hydroxyl radical and (c) 0.5 to 5.0 parts by weight of a compound selected from the group consisting of alcohols, esters, ketones and carboxylic acids, wherein said vinyl chloride-vinyl acetate copolymer resin has an average molecular weight within a range from 7,000 to 50.000 and has constituent monomer ratios of vinyl chloride:
- vinyl acetate within a range of 60 to 92:
- 8 to 40%, and wherein said reversible thermochromic material is dispersed in particles of a size within a range of 0.1 to 2.0 .mu.m, and
- said thermochromic opaque composition being capable of exhibiting reversible change in transparency together with change in color in response to temperature variation to exhibit a transparent state in a temperature range above a high trigger temperature and a colored opaque state in a temperature range below a low trigger temperature, with a hysteresis having a temperature difference of 10.degree. C. to 50.degree. C., both states being selectively held in a temperature range between said low and high trigger temperatures.