The label and decorations on the bottle are made of cloth, and will not tear when the bottle is folded. They will crease if the bottle is crushed, but can be easily straightened by caressing out the wrinkles.
To vanish the bottle, simply place it in a stiff brown paper grocery bag taller than the bottle. You can then crush the grocery bag, ball it, and toss it aside, and the bottle has apparently vanished. You would obviously retrieve the bottle from the crushed bag after the performance.
The bottle can be folded flat over and over into a small “square” less than 5″ x 5″ in size, and 1″ height. This would permit you to load this into most production boxes like Mirror Boxes, Square Circle Productions, or even a large Ghost Tube.
Just handle the bottle as you would a real bottle, and this can make for a very effective production item.