I have a small box that I just throw scraps into. Once a year, I put on an audiobook and cut through all of them into predetermined template shapes and sizes. Then I start over. The pieces are saved in individual boxes until there are enough to make a quilt. The large hexagons are a new project.
Precut shapes include:
6 inch squares (for applique)
Drunkard's path parts
Apple Core
Tumblers (bright fabrics only)
5 & 7 inch hexagons
2 7/8 inch squares
2 1/2 inch squares
2 inch squares
2.5 inch strips
2 inch strips
1.5 inch strips
I tried other sorting methods, but found I just wasn't using the scraps. Having them precut makes them immediately available. Just plan what type of project you want to do and save for that size.