We generate and characterise continuous variable polarization entanglement between two optical beams. We first produce quadrature entanglement, and by performing local operations we transform it into a polarization basis. We extend two entanglement criteria, the inseparability criteria proposed by Duan {it et al.}cite{Duan00} and the Einstein-Podolsky-Rosen paradox criteria proposed by Reid and Drummondcite{Reid88}, to Stokes operators; and use them to charactise the entanglement. Our results for the Einstein-Podolsky-Rosen paradox criteria are visualised in terms of uncertainty balls on the Poincar{e} sphere. We demonstrate theoretically that using two quadrature entangled pairs it is possible to entangle three orthogonal Stokes operators between a pair of beams, although with a bound $sqrt{3}$ times more stringent than for the quadrature entanglement.
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