Abstract: A cooling and insulating holder for a container such as a beverage can or the like has a plurality of hollow arcuate reservoir pieces which fit together to form a ring with a receiving opening therein to receive the container. A resilient sleeve surrounds the reservoir pieces and holds them in ring configuration. In this way, a container larger than the normal opening in the ring may be inserted into the opening and the reservoir pieces will separate against the force of the resilient sleeve. If the opening in the ring is equal to or slightly less in diameter than the smallest diameter container expected to be used with the device, the device will maintain that and larger containers snugly within the ring with good contact between the container and the inner reservoir walls. The reservoir pieces are each filled with a coolant material which, in use, is frozen prior to insertion of the container to be cooled.