A Crafty Pencil Holder

Here's a pencil holder (oh, there's a ruler in there, too!) that originally appeared in Marie Claire Idées magazine. I discovered it, along with a tutorial, here (the instructions are in French, while the photos alone show really well how to sew it).

It could be made to hold so many different things -- silverware, knitting needles...and the list goes on. This one is made with vintage fabric and the monogram on the inside is from an old table napkin.