A different way to see it is that if you take the standard sphere in $\mathbb R^3$ and remove the north and south pole, you can take a projection (that's also a homeomorphism) onto the cylinder $\{(x,y,z) : x^2+y^2=1, |z| \leq 1\}$.
a formula would be to literally send $$(x,y,z) \mapsto \left(\frac{x}{\sqrt{x^2+y^2}},\frac{y}{\sqrt{x^2+y^2}},z\right).$$
Note that on the North and South Pole, this formula is not well-defined! It's good that we removed it.
Geometrically this is kind of like "widening" a two holes in a sphere until you get to the cylinder.
This is actually a pretty common homeomorphism!
Once you have a cylinder, the circle $S^1$ is a deformation retract of your space.