First off, for around $12 from Amazon or Wine.com, this is an absolute steal. It is a wine bottle sleeve that you keep in the fridge when you are not using it. It chills down a bottle of wine in about 5-10 minutes and will keep the bottle chilled for up to 6 hours.
With kids in the house, I find using this is one less thing to worry about. Unlike a conventional ice bucket that can be tipped over and ice flying everywhere, the Vacu wine chiller is really just an almost unbreakable sleeve, that your children will not be likely to destroy. It is composed of six pockets of 'special' liquid that actually keeps the bottle chilled and the sleeve will fit any standard 750cl bottle of wine.
Well worth the investment if, like me, you sometime forget to stick a bottle of white in the fridge for a few hours before drinking. I also use it to chill down red wine, especially Pinot Noir. Delicious!