A receptacle for placement in a cooler of ice. The receptacle includes a sleeve structure placement in the cooler's ice compartment, the sleeve structure having a base portion and a chamber for receipt of a drink bottle or container, food item, medicine, or other items which require, or for which it is desirable, to maintain as chilled. The chamber is configured such that upon placement of the sleeve structure into the ice compartment and being surrounded by ice, the item to be cooled is substantially isolated and free from contact with the ice. The receptacle maintains an open volume in the ice for an item and allows for the item to be withdrawn from the cooler, without ice in the cooler collapsing and filling in the void left by the removed item. This allows the item may be readily reinserted back into the cooler when desired.