A portable beverage carrier and dispenser. The carrier comprises an elongate tube have one end open and the opposite end generally enclosed. The tube includes perforations to permit water to move in and out of the tube, and a float that is placed into the tube prior to inserting beverage containers. The carrier is designed to be inserted into a hole in the ice surface on a body of water. A flange prevents the tube from falling into the hole into the underlying body of water. Anchors can be provided to anchor the carrier to the ice surface. When the carrier is placed in a hole in the ice surface, water enters the interior of the tube via the perforations. The float is placed in the tube and then beverage containers are loaded on top of the float. The buoyancy of the float in the water forces the beverage containers upwards in the tube so that the topmost container can be readily retrieved by a user.
