Creative idea using wooden embroidery hoops (purchase at a craft store) and place colorful fabric in the hoops. Since these are light weight decorating items the hoops are perfect to hang from the ceiling or on the wall. Nursery by Lorena & David of San Francisco.
Display bits of fabric that you like instead of keeping it in a box. Fabric is art in itself. You can find embroidery hoops all the time at garage sales and thrift shops! Maybe even paint the hoops to give a little color to the fabric hoop wall!