A jump rope has a flexible rope interconnected between left and right handles. Each handle includes two elongate half-pipe members that are held together by a sleeved collar at one end and a sleeved end cap at the other end. On each handle, a rope holder includes a rotor portion rotatably retained within the handle, and a clamping portion configured to releasably clamp a cross-section of the rope. Tubular elastomeric hand grips are preferably sleeved onto intermediate portions of respective handles.