I would suggest taking a look at Jeni Baker's blog "In Color Order". She has a header called The Art of Choosing in which she includes a video on folding fabric. From fat quarters to 1-2 yards, they all end up the same size just fatter for the bigger pieces. She also talks about choosing fabrics using combos from the color wheel. Excellent information. I keep my scraps in one of those big plastic zipper totes that comforters come in. If I get much more I may have to start dividing them up by color. At least I can see what is in there without dumping them out. I also cut squares 1.5" to 5" and keep them in labeled mayonnaise jars on a shelf along with scraps of binding and selvages. Sometimes a scrappy binding is just right.