A telescoping set comprising a peeler knife and a set of holding prongs both fastened to handles of the same outside diameter having a common axial center line. Recesses in the front face of the peeling knife handle telescopically accommodating the prongs in the prong handle. Recesses in the front face of the prong handle telescopically accommodating the blade of the peeling knife. When the two handles are joined face-to-face the sharp cutting edges of the peeling knife blade and the points of the prongs are protectively enclosed in the assembly.