Multi-purpose shears adapted to include structure that enables rapid and effective cutting of sheet fabric as well as tough fabric. A U-shaped housing is positioned on a loop grip of the shears, the housing having an insertion slot defining an opening at one end and at least one blade having a cutting edge mounted within the housing. The blades are positioned within the housing so as to present a cutting edge obliquely to the insertion slot, so as to cut or slice material inserted into the insertion slot. The insertion slot is generally configured in a direction that permits ergonomic handling of the shears for both snipping and for slicing. The opening may be oriented in a proximal direction relative to the operator, so that the operator may snip in one direction and slice in the reverse direction.