A caution tape holder for removable attaching a length of caution tape to a prior art safety cone. The caution tape holder is comprised of a top portion and a body portion, wherein said top portion extends at least partially out of an opening in a safety cone and has an opening therein for receipt of a length of caution tape. The caution tape holder of the present invention can be used in conjunction with a variety of different sized safety cones and will not damage the safety cone or the length of caution tape used therewith, nor does it necessitate the threading of the tape through a narrow opening. Additionally, the caution tape holder will not unduly interfere with the stacking and storage of prior art safety cones in a nesting fashion.