Abstract: A container for holding paint or other liquids and a method for making same. The container includes a body having a bottom wall and a side wall extending from the bottom wall along the periphery of the bottom wall which terminates in an upper rim. The container also includes an annular retaining ring secured to the upper rim. The annular retaining ring forms an outlet/inlet through which a liquid can be placed or removed from the container. The container further includes a lid pivotally and detachably mounted to the annular retaining ring for movement between an open position and closed position with respect to the outlet/inlet and for removing the lid from the annular retaining ring. The lid, body and annular retaining ring are individually molded and secured together by simple fastening means.