Studio Update. A few weeks ago, I added this curved display unit to my storage system, as well as the unit just to the top left of it. I was happy with the arrangement I had, but the 20 cubes were stacked 4 high, so I was missing a work surface. The additional units, plus the table-tops really make a difference! I no longer have to step into the next room to use my paper punches on the dining room table. Some punches need to be firmly pressed from above, and the stack of 2 units is just the right height. Also, all the little collectibles in the curved unit were taking up the only countertop space I had. This is much better!
Here's another use for a thread-spool rack. My Martha Stewart punches were all neatly arranged in a drawer until I bought one too many (sigh)! This is an upcycled (a word popular at Etsy.com) idea I've used several times. I no longer store much thread, so I used some racks I already had and several broken ones found at JoAnn's for bargain prices. I put all the good pieces together to form one rack for decorative edged scissors, hand-held paper punches, and now, the MS punches. In the photo above, you can see the other upcycled idea - an old CD rack used for ribbon. I added fishing line across the bottom opening of each row of slots, so the ribbon can't roll out.