Keeping things organized in your home with two small kids is a tough job. Something is always getting lost or misplaced. I started using some of the plastic coffee containers we were recycling as a mini paint or crayon caddy. The ones with the handles offer a great place for a few paint brushes or pencils and you can store the paint inside. The tops also make a great place for placing and mixing paint.
The ones without handles are great for keeping track of crayons or markers. You could also label them and put your kids names on them if they are possessive like mine are. :)