Actually the fabric serves a purpose. I have a pull out tray under the dresser with more craft stuff. I swear I have more miscellaneous craft items then I can ever use.
I got the basic idea from a craft magazine and tweaked it a little. It is basically 2 cotton terry cloth cut and re-sewn into a simple block pattern. I lined it with felt and put in pockets. I love it. Here's the downside. Terry cloth when cut sheds like you have no idea. I swear it was worse then dealing with fake fur.
This dresser has been a hand-me-down in my family for over 30 yrs and I am the last. Anyway my kids out grew the dresser size so I decided to convert it into my craft storage dresser. I painted the dresser white and went to the dollar store and found this great wrapping paper and decopaged the drawers and a little accent on the sides.