WPWidgetToggle
WP Widget Toggle
WordPress.org Plugin Repo: http://wordpress.org/plugins/wp-widget-toggle/
Hides widget content on page load then allows the user to toggle widgets open and closed by clicking the widget title.
Inspired by this MSP WP thread: https://groups.google.com/forum/#!topic/mpls-stpaul-wordpress/jzqcYebwD3s
There are no plugin options, yet.
Fork it and tweak to your needs... or hire me to make you a custom version: http://thoughtrefinery.com/contact/