A while back I covered one of these French's Fried Onion Containers in tissue paper. The project turned out so well that I thought I'd make another one to store crafty bits and pieces. For full instructions, see the original post here.
The whole project is pretty easy. Simply cut 2 rectangles of tissue paper to wrap around the container (I used a rotary cutter to do this). Then carefully apply the tissue paper to the container using Mod Podge. I apply a second coat for durability and to cover up any oddities and overlaps from the first layer. Be careful when applying the Mod Podge to the tissue paper for the second layer as the tissue paper is wet and can tear. Waiting a little while between layers is your best bet. Then when you're all finished, add a coat or two of Mod Podge to the top to seal it all up.
After the container is sealed and dried, it's quite flexible and durable and ready to store whatever you need to.