Abstract: A reusable cooling and insulating device for bottles and the like is provided in the form of a jacket having a single or plurality of flexible compartments which are interconnected having an inner chamber and an outer chamber therein. A heating and cooling temperature conditionable liquid is housed in the inner chamber which enables the inner diameter of the jacket formed by the inner chamber to confirm with the surface of the object on the which the jacket is positioned for heating or cooling. A flexible insulator of air or air and flexible plastic is positioned in the outer chamber of each compartment for directing a greater temperature transfer from liquid to the object and less heat exchange from the liquid to the environment. The liquid is continuously in direct contact with and pressed upon the bottle or object which contact determines the cooling/heating. The jacket is recharged in a freezer or heated in a microwave depending on the function to be performed.