A formal [2 + 2] cycloaddition of 4-phenyl-1,2,4-triazoline-3,5-dione (PTAD) with electron-rich alkynyl sulfides and selenides is described. These investigations provide a convenient method to access diazacyclobutenes in good yield while tolerating a relatively broad substrate scope of thio-acetylenes. This method provides ready access to a unique and hitherto rarely accessible class of heterocycles. A combination of dynamic NMR, X-ray crystallography, and computation sheds light on the potential aromaticity of the scaffold.