A collapsible container, which can be used as a household storage container, a temperature containment vessel (i.e., “ice chest”), or other type of container. The collapsible container is shiftable between a collapsed configuration and an assembled configuration. The container base comprises opposed grooves, each comprising a pivot, wherein one pivot is farther from the interior surface of the base than the opposed pivot. A pair of side panels preferably comprise at least one arm member having an elongated guide formed therein that is rotationally and slidably engaged with respective base pivots to allow the panels to shift between an upright position a horizontal position, in a stacked configuration. The lid preferably comprises at least one passage formed horizontally in the top panel to allow air to flow therethrough.