YOu know, I remember my grandmother making a postage stamp quilt when I was little. She was always working on it. I think that she cut squares of all the fabrics she had at the time... until she could make a bigger pieced square, and then started collecting again. I remember her showing me several completed bigger squares that were in a cedar chest and telling me which fabrics belonged to my mother or aunt when they were little.
I dont know how you would do it in this day...with all the people you can exchange with. I am sure they had to exchange in years gone by too..... hmmmm......