The present invention includes a retractable signaling apparatus and a method of using the apparatus to alert passers-by to the presence of a stationed vehicle that may be obscured from view. In situations that include the parking of a small vehicle or the stationing of such a vehicle along a road due to mechanical difficulties, it is often difficult for passers-by, including pedestrians and other motorists, to be aware of the presence of the vehicle. In such situations the present invention provides an easily carried signaling device that can be tethered to the vehicle. The signaling device provides an alert to passers-by of the presence of the vehicle in a timely manner such that collision with the vehicle can be avoided. The tethering means ensures that the alert is maintained in view of ambient conditions or mischief that could otherwise cause the loss of the alerting device.