The synthesis, structure and reactivities of paracycophanes 2a-c, the smallest bridged [n]paracydophanes so far isolated, are described. The parent hydrocarbon 2a has been efficiently synthesized by oxidative decarboxylation of [6.2-2]propellenecarboxylic acid (7) by lead tetraacetate. The 8-carbomethoxy derivative 2b has been quantitatively synthesized by thermal valence isomerization of the [6.2.2]propelladiene (4b) (Dewar isomer of 2b). X-Ray structure analysis of the crystalline 2c has revealed that the benzene ring of 2c severely deformed into a boat conformation with deformation angles of α= 20.5° and β = 18.5°. Furthermore, the bond angles of the bridging chain (C(2), C(3), C(4) and C(5)) are considerably expanded from the normal sp3 angle. Vaporphase thermolysis of 2a gives the spiro triene 12 via homolysis at the benzyl position. Add-catalyzed isomerization of 2a with trifluoroacetic add takes place readily to afford the meta and ortho isomers 13a and 14a in a ratio of 1:3. UV irradiation of the ester 2b brings about valence isomerization to the Dewar isomer 4b which isomerizes slowly to the prismane derivative 15a on further irradiation. A [4+2] cycloaddition of 2a with N-phenyl-l,2,4-triazoline-3,5-dione occurs at room temperature to give mainly adduct 16. Addition of bromine to 2a takes place to furnish quantitatively the unstable 1,4-addition product 18. Oxidation of 2a with mCPBA readily takes place to give the dienone dimer 20 which affords on UV irradiation the cage diketone 21 derived from intramolecular photocycloaddition.