Collapsing Instructions
Start by holding your hoop upright with the connectors at the top & bottom of the hoop like so…
Place each hand on either side of the top connector.
Push down on the hoop while slightly twisting your right hand towards you & your left hand away from you.
Then fold one side of the collapsed hoop over the other side, folding it in half.
Voila! Now your hoop is collapsed!
Usually the hoop tries to unfold and will not stay collapsed (which is why my hand is in this pic). So I usually tie the hoop together with a pretty ribbon to keep if from unfolding.
HoopBunny 
How do I uucollapse it? I don’t want to break it
I’ve been meaning to make a video with instructions for a while, but in the meantime I’ve been directing people to this video by Lisa at Hiptronic Arts: http://youtu.be/M8njm7jfVFY . She does a really good job of explaining how to unfold and collapse infinity style hoops and the way she collapses them is actually easier than what I originally wrote out in these instructions. I hope this helps! 🙂