I cut pieces of chipboard 4x3 inches,
I wrap my ribbon around the pieces (2 1.5 inch ribbon fit on each chipboard piece placed long wise) and then wrap an elastic hairband around the piece to secure the ribbon (I don't like pin holes in my ribbon )
then I put them in a plastic shoe box with a lid in ROYGBV order,,,,
I can see what I have in a flash, it cost next to nothing (I hit the dollar store for the box and the hair bands), it's neat and manageable,,,,,,,and it holds a TON of ribbon in a small space. It's a piece of cake when I buy new ribbon to grab another chipboard piece and wrap it around, securing with a hairband and then file it in the correct space in the shoebox.