Dr. Fleischer Clairvoyance: as new

The performer shows 5 identical plastic containers.  The spectator chooses one and the other four are put in a velour bag.  The spectator puts a ribbon, bill etc into the container and it to is dropped into the bag.

The bag is shaken and he magician reaches in and immediately (no fumbling) removes the container with the ribbon in it.  Clever principle.