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Start out by cutting eight 5.75"x4" and two 5.75"x13" pieces of felt (you could also use vinyl or any other durable piece of material that won't fray).
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On one of the big pieces, mark where to sew the pockets... 1" apart.
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Next sew ribbon on top of all of the pieces that will be the pockets.
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Starting at the top, sew on the pockets (just a stitch across the bottom).
After the pockets have all been sewed on, put the other large piece on the back and stitch all the way around. If you want it to hang, sew a loop of ribbon on to the top.
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And there you have it! CD organization complete in less than an hour. I know you can buy things like this, but it's much cheaper to make. And depending on what fabric or ribbon you use, these could be really cute. I just used what I had lying around.