Abstract: A paint brush storage bag assembly for storing a paint brush in a storage liquid between uses and holding the brush while in use. The assembly comprises a foil bag for receiving the bristles and the adjacent portion of the ferrule therein. The bag has a relatively flat bottom for supporting itself in an upright position and also has a pair of vertical pleats therein for permitting an upper edge of the bag to be closed around the ferrule of the brush. A paint brush is provided and includes a relatively wide elastic band positioned in a stretched condition around the ferrule of the brush. The elastic band is rollable onto itself to form a band of increased thickness to serve as a drip guard. The brush can also be suspended on the edge of the foil bag by the rolled-up elastic band. The elastic band is unrollable downwardly over the upper edge of the foil bag to secure the bristles of the brush in the bag and seal the contents of the bag therein.