Research suggests that multiracial identity is uniquely malleable, and I will focus here on the significance of that malleability for mixed-Asian individuals. At various times, mixed-Asian individuals may present themselves as "half" Asian; other times, they may present themselves as "full" Asian, "full" White, or, in some instances, fully ambiguous. Mixed-Asian racial identity negotiation, I will argue, often presents considerable challenges for mixed-Asian individuals. And mixed-Asian individuals are often targets of what I have elsewhere called "racial capitalism" by White individuals and predominantly White institutions. Still, I conclude that the malleability of mixed-Asian racial identity provides unique opportunities for destabilizing existing views about racial identity, reinvigorating stale conversations about race, and ultimately facilitating progress toward a racially egalitarian society.