I started out by having mine neatly in plastic shoe boxes.
I QUICKLY out grew that system. :lol:
Now, I have 4 laundry baskets. One for each size strip 1 1/2", 2", 2 1/2", and 3 1/2".
I didn't sort by colors. I Love scrappy quilts, so this works for me. I usually just close my eyes and grab a strip from the size basket that I need. ;)