An assembly and method are provided for storing and dispensing a soluble substance, such as a flavoring, into a liquid. A useful application of the subject invention includes the case where lime-flavored liquid is contained in a foam artificial lime stored in the neck of a beer bottle, attached to a beer bottle or can, or attached to the 6-pack or 12-pack carton. The artificial lime may be retrieved from the neck or a protective covering and acted upon so it diffuses the lime-flavored liquid into the beer when it is inserted into the beer bottle. Alternately, juice from the artificial lime may be squeezed into the beer, or the artificial lime may be simply retrieved and discarded. Rather than needing to buy a natural lime, cut it up and push a wedge into a beer bottle, an artificial lime, or a packaged natural lime, may be stored directly in or with the beer bottle and placed in functional contact with the beer at time of consumption.