A string of holiday lights and storage device and method that includes a spool made of two coaxially aligned, circular plates spaced apart by at least a transversely aligned first axle. The axle is attached to a handle located outside the circular plate which allows the axle to be manually rotated. Located parallel to the first axle is a second axle located between the circular plates or two lateral extending arms. Disposed between the two axles is a wide, flexible support strap designed to be wound in opposite directions onto each axle. During use, the end of a string of holiday lights is inserted against the inside surface of the support strap. As the strap is wound onto the first axle, the string of lights is also automatically wound into the first axle so that it is held in position against the outer surface of the axle.