A reversible fastener that can be positioned in one of two alternate display positions without removing the fastener from the underlying garment is provided. The unique configuration of the fastener allows it to be rotatably coupled to a garment in a manner that facilitates the reversibility of the fastener without requiring its removal. The reversible fastener is useful in a variety of applications including garments, jewelry and footwear. Further, one embodiment of the present invention is also useful in providing a structural anchoring assembly.