Abstract: An insulating material for storing contents, such as ice. The material can be in a blanket form or can be formed into a container, such as a bag. The material comprises an inner layer of air cellular sheet material, an outer layer of air cellular sheet material, and a barrier sheet between the inner and outer layers of air cellular sheet material. A container can be provided with a sealable opening for inserting and removing contents from the container. The air cellular sheet material may comprise entrapped air cells or bubbles. The barrier sheet may be formed from paper such as “Kraft” paper. The sealable opening can comprise a closure or seal, such as a plastic zip fastener or a thistle cloth hook and loop fastener, where the opening may be resealed following removal of contents from the container.