So over the past 6 years, my daughter has collected hair stuff and more hair stuff and more hair stuff, some was more babysh now, and I was getting tired of the cluttered bathroom drawer and never finding two barrets that matched, so this little system evolved out of shear necessity. 
So far it has been working and she can access her things so much quicker than before.  She has kept it neat for about 5 months and that is a record!  We first had to pare down the things that were old, broken, or not loved anymore, then figure out how many categories we'd need then pull it all together.
I just picked these cute little beige and brown seperation sets at dollarama for 2 dollars each.  In the back she keeps bigger stuff like head bands.