Collapsible cup for hot and cold beverages

A collapsible cup comprising:

• a first ring having an outer wall and an inner wall comprising an air gap slot therebetween;
• a second ring having an outer wall and an inner wall;
• and
• a locking mechanism for collapsing and extending the cup, wherein the locking mechanism comprises a first pin extending outwardly from the inner wall of the first ring, and further comprises a track disposed along the outer wall of the second ring, wherein the track is adapted to engage the pin as the cup is being collapsed and extended;
• wherein the first ring further comprises a magnet slot between the inner and outer walls of the first ring, and wherein the second ring further comprises an air gap slot and a magnet slot between the inner and outer walls of the second ring, and wherein the locking mechanism further comprises a magnet held within the magnet slot of the first ring and a magnet held within the magnet slot of the second ring.