Alkynyl Fischer carbene complexes 1, which feature a pendant olefin group, undergo novel cascade processes triggered by [2+2], [3+2], and [4+2] cycloadditions. Competition between cyclopropanation and olefin metathesis is controlled by the substitution at the double bond. The method described can be used to obtain different kind of polycarbo- and -heterocycles. A mechanistic explanation by means of DFT computational modeling is provided.