Our house has two of these organizers to hold plastic bags: one in the kitchen, and one in the bathroom. The plastic bags are used as trash can liners. It is a homemakers joy to have a centralized place for her supplies.
However, the organizers can hold multiples of any like items such as white socks, face towels, etc.
The tutorial is from the Martha Stewart website. I turned the instructions into a PDF: Plastic Bag Organizer.