Abstract: An insulated sleeve for a drinking glass of the type having a stem and a bowl, the sleeve adapted to extend about the glass and comprising insulating material, the sleeve having an upper opening and a lower opening, the upper opening having a peripheral edge which, in use, extends about the bowl of the glass, the lower opening being smaller than the upper opening and adapted to extend about the stem of the glass, the sleeve having an elongated releasable closure means extending from the lower opening and adjacent to but spaced from the upper opening to allow the lower opening to be enlarged prior to receiving the glass and then reduced so that the sleeve snugly receives the glass therein.