Cute idea. I use small plastic shoe boxes or larger depending on the project. I label the outside with what is inside:

Applique fabric, Reds, Greens, Frog Quilt, Paper Doll Quilt, Christmas Quilt, etc.

Well atleast you know what fabric is in the bag. Good idea. I use the large Ziploc with the label and put a copy of the pattern in it.

If you happen to have closet space, consider using a shoe or sweater organizer with shelves, the kind that hangs from the clothes rod. It is neat and you can see what's on hand.

Oh...that sounds so pretty. I like the flap and ribbon idea. You could also probably do something like that as a gift for someone that has an IPad, or tablet. It would make a lovely, protective cover.
~ Cindy

I love the fabric bag idea, but I know myself.. I do good to get the project into a ziplock bag. I carry my PIGs full of ZIGs (? ziplocks in grocery sacks) every where we travel , car trips, plane rides even in the back of a covered wagon once ( for a civil war reenactment)

You do what works for you.... and I'd never get it that much together... i'd love to see pics!

For the larger projects, I purchase the wicker picnic baskets with the handles on. (like a suitcase). I attach the labels
to the handles. They stack nicely, even on the floor. I usually set them up on top of the bookcases. I usually buy the cases for $3 at thrift stores or garage sales. Then I wash them in soapy water and rinse good by spraying them. Then I set them out in the sun and let them air dry. I probably have 15 now. I like using other baskets in my sewing room too. They hold everything.