great tutorial on organizing scrap fabric: Bee In My Bonnet : The three sizes that I use the most and keep in these small baskets are 1 strips and squares. 2 strips and squares. And 3 strips and squares. (I also keep and squares)
Pat Sloan: Scrap Busting My Way ~ Some useful tips to trim and save scraps in useful sizes! This kind of organizing system not only makes it easy to use scraps, but it takes up less space! This is a great help for those who need to organize their scraps!
Tame Your Stash with Creative Fabric Storage Ideas
Whether you cut specific sizes from every fabric or cut yardages with a particular quilt project in mind, sorting by dimension is a storage option. Use clear-plastic storage boxes to hold fabrics of the same size and label the boxes for true efficiency.