The present disclosure describes a novel interchangeable flip-flop/sandal footwear that is capable of interconversion between a flip-flop and a sandal by movement of a heel and/or forefoot band between a first stored position and a second in-use position. In the first stored position, the heel and/or forefoot band is movably stored adjacent to the heel portion of the sole. In the second in use position, the heel and/or forefoot band is placed on the user's foot as described herein. In one embodiment, the flip-flop/sandal comprises a sole, a forefoot cover, at least one of a heel band and a forefoot band, each of which being capable of movement between a first stored and a second in-use position, at least one central member rotatably secured and received by the sole, said central member being in removable communication with the heel band and/or forefoot band and at least one void or indentation in the sole to rotatably receive and secure the central member.