Thats where Instructables userEurekaFactorysInstaCool cup idea comes in.
You grab one plastic cup, a paper towel, and then a second plastic cup.
Then slide the second cup on as if you were going to stack them.
The extra insulation slows any heat transfer; meaning the liquid in your cup will stay colderor warmerlonger.
You also wont have to worry about dripping condensation everywhere.
InstaCool Cup: DIY Insulated Plastic Cup| Instructables