A flexible radiation source. The flexible radiation source has a layer of flexible material with at least one radionuclide dispersed therein to form a flexible, radioactive matrix. A layer of flexible nonradioactive material is also provided to which the flexible, radioactive matrix is permanently attached. The flexible radiation source can be folded or rolled from an extended or planar configuration to a folded or rolled configuration without causing the at least one radionuclide from becoming separated therefrom. The flexible matrix material is free from encapsulation by any rigid structure when in use. A storage and shielding container with a compact form factor is provided. The form factor of the storage and shielding container accommodates the flexible radiation source when the flexible radiation source is in its rolled or folded configuration, but does not accommodate the flexible radiation source when it is in fully extended or planar configuration.