A great site for info and inspiration for using up scrap fabrics is Quiltville! Bonnie Hunter has some great tips for organizing your scraps and wonderful techniques that make creating scrappy quilts lots of fun!

http://quiltville.com/

Thank you for posting this! With fabric (at least the ones I love) at $10 a yard, this is wonderful news. I have a thought on your suggestion on getting through the high price period. I have just finished going through my fabric. It seems that no matter how I arranged my fabrics, they end up in a mess. This is especially true for the odd left over pieces. I decided to take any fabric less than half a yard and cut them into as many squares as possible. I chose 12-inch, 10-inch (I love the layer cake bundles), 8 1/2-inch, 6 1/2-inch, and 4 1/2-inch. I also wrapped long strips around cardboard. Pieces 4-inches and under I bagged to give away. Since I do like strippy quilts, I know these squares will be used. You can't tell by the photo, but the 4 1/2-inch bundle is at least 6 inches high.

I was surprised at how many odd pieces I had.

This just in: according to Clark Howard, a (self proclaimed) financial expert with a show on PBS, Egyptian cotton growers have responded to the cotton shortage by OVERPLANTING, and they are projecting a major surplus. He predicted that by next year, clothing prices will drop, reflecting the crash in cotton prices. So hang in there, fellow hoarders and fabric fondlers. We can get through the hump (maybe actually USE some of our accumulated fabric), and we are sure to see better fabric pricing soon!