Wow! I had heard that size does matter........sorry, couldn't resist.
Flip Wilson made me do it!
Okay, I am done with the jokes.
I use a thread-catcher-bag for the tossing away the thread ends that I cut when changing threads.
I made one of these, but used boning instead of packing strap and reptile aquarium sand for the pin cushion (I have no reptiles, the package was more convenient than a "ton" of play sand from Lowe's). http://www.kquilts-studio.com/pincushionthread_catcher_tutori.htm
You can end up with a pretty mix of threads and if you are into making art quilts and do free-motion stitching, they could be added for extra color and texture.
A med-lg empty medicine bottle with a hole (hot needle or awl can make a hole in the plastic, but use a pot holder to hold the awl or cork to hold the needle) for storing used and broken needles.....now, I no one ever has broken a needle....ever.
A small gift box or it's lid can serve as a caddy for the thread and extra bobbin scissors, etc you may need for your project. Everything is together for use and for storing away when the project is finished.
I also have a hobby cart with removable drawer/cases for storing thread and stabilizer. It can live anywhere as the drawers are portable cases.
I have rugs in the sewing area, so to reduce the amount of cleaning of the vacuum after cleaning the floor, I use the hose & tubes to pick up stray threads and trims that miss the basket when sewing and serging, then vacuum the floor & rugs.....no more threads wrapped around the rotating brush...nasty job even using a seam ripper to cut away the thread.
When finished for the day, I cover my machines like little birds ready for bed.
Sounds like a dream? Actually, some days it is and other days it's a nightmare. 