A paper towel holder to store bracelets. A soda or wine bottle would also work. You could also use bottles to store ponytail holders! For a thinner paper towel holder that's wooden, paint it a pastel color and add a doorknob to the top.
I like the idea for doing it for a child starting a new school or going off to college! Even though it was pinned as a one year wedding gift, I'm thinking of doing it for my daughter as she enters junior high in a couple of weeks. The Paper Gift for 1