I love it when I find a DIY project that truly looks like it can be sold in a store. I live and breathe kids' crafts on a daily basis, so it is so refreshing to see something so polished, stylish, and useful.
Amy from the b-line came up with these amazing felt storage bowls that can be large to hold toys or small to hold paperclips. And check out her tutorial. You'll die over how easy they are! Look at this detail:
Found via Li'l Magoolie.