Modify a readily available retractable reel (badge holder) so it has two operating modes. Use a switch or lever or something mechanical to change between operating modes from #1 to #2 and back.
Mode #…

                                  
                                    
                                      
                                      
                                        Engineering & Architecture
                                      
                                        

                                      CAD / 2D / 3D / Technical Drawings

                                    SolidWorks3D DesignProduct DevelopmentPrototypingCAD Modeling
                                  
                                

                                
                                
                                  
                                    
                                      
                                    
                      