Mr. Scrimp and I are in the middle of organizing and setting up our spare room to be an office/craft room, after almost eight months of using it for storage (read: piling things up when we don't want to deal with having them in the rest of the house). As a result, all my crafting stuff has been moved from disorganized piles on the floor to semi-organized piles on a shelf and I've been too busy to actually do much crafting.
But... when I do, this is the next project on my list--a rectangular cloth basket, designed by Gina at the Shabby Chic Cottage.
Go here for the how-to.