Neat idea for yarn storage. Prudent baby uses a wine rack to hold skeins of yarn. I love it. Not only does it keep the yarn nice you can sort buy color and it actually looks pretty in the rack.
Towels look nice rolled and kept in wine racks too which is nice if you don’t have a lot of linen closet space.
Wine rack as yarn storage
http://prudentbaby.com/2010/02/prudent-home/wine-rack-as-yarn-storage-2/
Winsome Wood Wine Cabinet, Walnut
Oenophilia Fusion 15-Bottle Wine Rack
Old Dutch International 27-Bottle Matte Black Arched Wine Rack
Le Cellier Wine Rack, Black