Carol Anne, I adore this! I just got my 150 Prismacolor Pencil set in the mail today for Lola's Thread Art class. I'm simply not a fan of the bulky tin they came in. Luckily, I came across Lola's recommendation to check out this project of yours - and I love it! I actually made a roll very similar to this to give to my sisters for Christmas as a travel makeup/brush holder. I added a zippered pocket at one end, and a rickrack trim.
Where oh where did you find the fabulous fabric you used in the picture above? I'm in love! :)