Abstract: The present invention provides an identification device, and a method of use therefor. The identification device comprises a label holder, at least one label, and a strap or adhesive bond to secure the label holder to a storage container. The label holder preferably has a box frame and a slot therein. A slot entrance aperture allows the insertion of the label or labels into the slot. A window in an exterior wall of the label holder provides visual access to at least a portion of the information on the label. Each of the labels has a tab extending outwardly from the slot entrance aperture as well as printed information on at least one side of the label concerning the age of, the nature of, and the approximate amount of the contents of the storage container. In its preferred mode, the identification device also includes an indicator. The indicator preferably is attached to the box frame by an oval shaft that fits into a hole with a plurality of detents.