Abstract: The present invention relates to a cooler having a plurality of beverage container holders that are adapted for retention of a beverage in a plurality of positions. More specifically, the beverage container holders are adapted to be placed and secured in a stowed position wherein the beverage container is retained within the ice chest. Also available is an extended position outside the ice chest wherein a beverage container may be inserted and retained. This design allows an open or closed beverage container to be inserted into the retainer in the extended position and then returned to the stowed position allowing the beverage to remain cool and free of foreign materials or organisms.