Abstract: A keg insulating apparatus (200) is provided. The apparatus includes a sheet (202) of flexible insulating material configured to be wrapped around a body of a generally right cylindrical keg (100), a first circular disc (204) of flexible insulating material sized to fit against a top surface (110) of the keg and having an aperture (212) provided therein through which a dispensing tap of the keg extends, and a second circular disc (206) of flexible insulating material sized to fit against a bottom surface of the keg and to be held in place by means of a friction fit with a lower projecting rim (108) of the keg. The sheet of flexible insulating material further includes attachment formations (208) by means of which free ends of the sheet can be brought together and the tension between the free ends adjusted so as to tightly wrap the sheet against the keg.