I have built up quite a large range of colours of wool for felting, and last year I wanted to find a better way to organise my wool so that I could see what colours I had (and so that it would be easier to get wool out and put it away again). The solution that we came up with in the end was hanging wardrobe organisers, suspended from a curtain rail fitted along one wall of the studio (aka the shed). The organisers are breathable which should be better for the wool. It works really well, and I can now find the colours that I want much more easily as I work.
The old system, tucked in a dark corner, with lots of colours squashed together. 
The curtain rail and hooks
