Abstract: A collapsible, multi-use carrying bag having enclosed compartments suitable for transporting articles. The carrying bag includes a discrete upper collapsible compartment combined with a discrete lower collapsible compartment, separated and divided by a common wall, where each respectively has an opening for access thereto. The lower compartment is securely connected to the upper compartment to form a configurable carrying bag. The carrying bag includes at least one compartment having thermal insulative properties. A multitude of carrying arrangements are also provided.