One of the most intriguing proposals for wave-function collapse is the Diósi-Penrose model, in which collapse is driven by stochastic fluctuations of the Newtonian potential. We argue that a closely related effective structure can emerge in string theory if, as recently suggested, the present cosmic acceleration is sourced by instant folded strings and their decay products. A key difference, however, is that in this stringy setting the noise is naturally colored in time rather than white. As a result, the scenario is significantly less constrained by existing experiments than the standard Diósi-Penrose model.