A few years ago, I started sorting my embellishments by color. It seems easier to me to find something to go with the project I am working on by looking for something that coordinates with the colors I am using. I bought some canvas cubes from Target and started my sorting.
I used baggies, page protectors, baseball card holders, and divided plastic storage containers. Of course, there are also a few things just thrown in the bottom too.
Small embellishments not in packaging:
Things that can be seen better in their own divided pocket:
Thick or delicate ribbons and trims:
The rest of my ribbons are stored in this Pull-EZ grouped by color.
Of course, you always have some products that are multi colored and this throws a kink in the system. I usually put them in what is the dominant color or you could make a multi colored bin too.
I hope this gives you some ideas for oganizing your embellishments.
Here's a picture of my room back when it was clean...oh, if it only looked like this now.