A container for liquids and a lid for the same are shown and described. The disclosed embodiments incorporate a container and a lid, the lid having: a base removably, sealably coupled to the container; a mouth adapted to facilitate drinking and/or pouring liquid out of the container; and a valve member positioned therebetween. The valve member is rotatable between an open orientation in which an aperture in the valve member aligns with openings in the base and mouth, and a closed orientation in which the aperture does not align with one or both of the openings. A handle/actuator can be used to manipulate the valve member, and can be oriented to function as a handle for the container when the valve member is in the closed configuration, and to be moved out of the user's way when the valve member is in the open orientation.