I catch it in one of those disposable aluminum pans (10 x 12 x 2 1/2) and transfer it back to the bottle I poured the new oil from. Then you can take it to an auto parts store or Walmart automotive for disposal. I usually wipe out the pan, then wash with soap and save it for next time but you could just throw it out.
BTW, you do not want to mix it with gas for 2 cycle lawn equipment.
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