Universal container with pail and retractable pouring spout in lid

A container for storing a product, said container comprising:

• a pail having an open top;
• a lid secured to the top of said pail, said lid having an inner surface, an outer surface, and an opening defined therethrough having a first diameter;
• and
• a spout disposed in the opening of said lid, said spout being displaceable between a retracted position with said spout projecting inwardly into said pail and an extended position with said spout projecting outwardly from said lid away from said pail, said spout having a free end and an opposite end permanently secured at all times to said lid proximate the opening irrespective of the positioning of said spout and a deformable section proximate the opposite end,
• wherein, when said spout is in an extended state, said deformable section includes a plurality of concave faces, said plurality of concave faces circumferentially disposed about said spout.