A collapsible traffic control cone includes a lane marker for delineating lines of demarcation between lanes approved for traffic flow and areas where traffic is prohibited. When in use, the lane marker extends from a rotatable housing mounted on one of the cones and is releasably attached to an anchor on an adjacent cone. The lane marker is a flat, highly reflective web which lies flat on the roadway between the cones. In the event of a cone being tipped over from its base or when not in use, the lane marker retracts into its housing. A light responsive to oncoming traffic is also provided.