Alright, so this project is neither jewelry, nor a trinket, but it is
for jewelry and trinkets. It is certainly not a great example of my best work, and looking back I wish I had made some changes, but I thought I'd post it anyhow to that you fellow craftsters may use the idea and take it to a higher level.
So here it is:

I first spray painted the top black. Then I used blue masking tape and covered the top with a light mesh material. Over that I covered the top with some scrap lace - making sure that both the mesh and the lace were held taught. I covered the sides with more blue masking tape, and then lightly sprayed the top with gold spraypaint. After letting dry - Voila! I added a balsa wood oval and a chipboard fleur de lis. I am sure you guys could think of something prettier.
And the inside:

The inside is covered in some scrap burnt-orange velvet. I used the wood dividers from the cigar box to make the sections to separate sections for different types of jewelry, trinkets, and charms. The rest you can see.
Cigar boxes are often sold at good tobacconists, not so much at headshops. I would LOVE to see what you come up with if you are so inclined as to make one!!! Ideas would also be GREATLY appreciated for my next one!
p.s. sorry about the poor picture quality.