I cut all my scraps into either 6.5x 2.5 strips (for a future scrappy rail fence), 2.5 squares and 1.5 squares. Each have their own bin.

Me too! But I call it "diving".

I toss all scraps into a bin under my cutting table and when I get bored I cut them into 6,5,4,3,2 inch squares or into 1 1/2, 2 1/2 , qand 3 1/2 inch strips..adn then put into plastic bins with the size marked on the out side..

http://quiltville.com/scrapusersystem.shtml
check this out it may help.
D

I keep a grocery bag hanging on the closet doorknob and put all my scraps and trimmings in there...then take each full bag to the art teacher at school. She introduces the 8th graders to quilting and sewing and each makes a 12" or so square....it's fun to see my scraps used so creatively!

by predominant color; in quart size zip-lock baggies; anything larger goes into see-through plastic drawers (on wheels) also by color.

"Stash" also is in the drawer by color.

I have some rolling bins under my cutting table. They have four drawers and I have four of them. When I finish a quilt I cut small scraps into sizes of strips or squares and sort them into the bins for use later. My plans is to make scrappy quilts for the Children's Hospital and Nursing home. CAUTION: Make sure you have finished your quilt, shams and or pillows before you cut up your scraps. You never know what you will need.

I zip lock scraps from each quilt.

By color and or by theme. Use lots of see thru shoe size boxes and label them so I have an idea what is in them. :)

My dh found these wonderful type filing cabinets. They are shallow and very deep. I sort by colors, all my smaller pieces, usually a yd. The larger amounts are in a closet. My fil old tv cabinet has been converted to storage and looks good in the lower level. I have an old side board down there and a tall mission looking cabinet. They all look good also. I also have a shelf with the pull down front - like the desks. It's amazing what you can find for such a simple project like storage.
Judi