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Who says “American Idol” rejects are a bunch of hopeless losers — we found one who actually managed to turn his flash of fame into a lucrative profession … begging for money on the side of the road.

His name‘s Magic Cyclops — and you may remember him as the air guitar-playing bandana-wearing weirdo who fired confetti out of his pants during his audition in Aspen last month.

The judges unanimously rejected him — no surprise — but now he’s found success outside the music biz, panhandlng on the side of a freeway in Collins, CO.

Magic tells us, since his massively public “Idol” rejection, no one has wanted to hire his one-man band — because “now people know I don’t have the talent I thought I had.”

But after reading an article about homeless people making up to $ 30k a year just from begging, Magic was inspired — and decided to hit the road with a cardboard sign … earning an impressive $ 0.35 his first day.

For the record, Magic isn’t actually homeless — he lives at home with his parents, owns a car, cellphone, and a computer. But he is kind of a dumbass.