Step 1: The starting lineup
take a look at the lineup of coozies i've collected from around the house. there are two types of materials used to make these four coozies. the two on the left are neoprene, the two on the right are some sort of thicker foam rubber i don't know the name of. who cares? we want neoprene!
why neoprene? simply put, it stretches more. wine bottles are bigger than your average twelve ounce can. the foam rubber coozies will not stretch enough to be useful with a larger bottle.
also, note the two different types of neoprene coozies. on the left is a pretty straight forward can coozie. the pacers coozie on the right is what's known as a jersey coozie. it is made for bottles. it slides over the top of a bottle, instead of having the bottle slide down into it like a basic can coozie. see the close up.
for this instructable you will need one of each of the neoprenes. check liquor stores, sporting events, etc, for places to buy coozies.