These are the modern jelly shoes, with a twist.. Read all about these Shape Shifters via the times blog:
"Pesce’s new shoe for the Brazilian company Melissa — an ankle bootie composed of interconnected PVC circles, whose form can change at the whim of its owner with a swift slice of the scissors. Cut once, and the boot becomes a bootie; cut again, and it’s a ballet flat, a peep toe, a sandal or even a flip-flop. ‘‘This is the future of mass production,’’ Pesce says. ‘‘With the technology we have today, we can give people something that is half done and ask them to finish it.’’ 
http://tmagazine.blogs.nytimes.com/2010/08/09/shape-shifters/