I have some organized by color. Some scraps stay with their collections. I don’t like that sometimes the collection occupies more space the more I use of it!
Nope, they all get thrown in a drawer and then that drawer gets emptied when it's too full, and then they go live at a recently met neighbor who is a card maker.
Why card stock scraps are all sorted by color. My head and paper ones are in three different places one 3 x 4 size one 4 x 6 size and one 12 x 12. I go to them as needed, and it is very helpful.