Last Christmas my mom and dad got me a Helmer drawer unit from Ikea. It fits perfectly under the drop leaf table top (also from Ikea) where I do all of my cutting, ironing, etc.
As you can see, my gate leg table and Helmer drawers form an "L" wth my sewing table...making the placement perfect for easy access to my thread.
As you can see in the above picture (sorry for the duplicate photo), my drawers are labeled according to the type of thread they contain...Cotton (CT - Connecting Threads), Cotton (SLKY - Sulky Brand), and Poly (EMB - Machine Embroidery Thread). Slightly organized, but not as organized as I would like them to be.
Additionally, we all need bobbins of thread to match! I purchased a small bobbin holder and put the label from a set of threads from Connecting Threads inside. I tried, as I used a thread from the set, to put the corresponding bobbins in the case. They were there, but the thread was unwinding and tangling. So I tried putting a small hair elastic around the bobbin. It worked, but then I couldn't see the thread color!
Not too long ago I saw a picture on Pinterest which showed how to fasten your bobbin directly onto your spool of thread in order to keep them together. It didn't cost anything, well except for the cost of a rubber band, and I loved that the two were attached together so securely. No bobbins falling off of the top of the spool when I went to take it out of my drawer.
Connecting Threads sells one of my favorite "all purpose" threads. While they have a bazillian different colors of thread, once you take off the cellophane wrapper you have no clue as to the name! I used my Brother P-touch label maker to print out a label for each color thread. If you fold the label slightly the backing comes right off, no trying to peel it from a corner and losing my sanity in the process!
I then folded the label around the middle of one side of the rubber band.
Then stick one of the ends of the rubber band through the bobbin and the other end of the rubber band through it.
Holding the bobbin against the spool of thread (trapping the end of the thread), wrap the rubber band around the spool and over the bobbin.
Your bobbin is now attached securely to the corresponding spool of thread and you can tell the color of the thread at just a glance.
I used the cardboard tube from a pants hanger, cut to size to fit "firmly" to provide a divide between the colored threads I use for ordinary sewing and piecing and the colored threads I use for quilting. When my order comes in from Connecting Threads I will add the new spools to my current collection with their color labels attached to a rubber band so they will be ready to go when I am ready to sew!
Next I will tackle my Sulky drawer and the drawer that holds my machine embroidery thread. That one will be done the same way, except the threads have "numbers" instead of color names and I have a LOT of threads to organize!