Step 1: Materials
1. A sharp craft knife. I used an exacto knife but any craft knife should do. I wouldn't recommend swiss army knives because they aren't good for projects and if you've spent money on a good swiss army knife you don't want to ruin the blades.
2. A starbucks gift card holder. This thing folds up on itself so it keeps the picks protected. If you don't have something like this you'll have to improvise. Cardboard doesn't work unless the stuff you have is REALLY thin. I tried using a really thin shoebox and it was still to thick to fold up.
3. Duct tape. This is not essential but I really recommend it because the cuts you make to fit the picks can come pretty close to the edge. The duct tape keeps the thing from ripping apart completely. I used black, but you can use whatever. I would have used pink if I had it.
4. Some picks. The pickpocket holds five picks. You can modify it to hold however many you want. Those picks I just bought recently from a store called Not of This World. I think my favorite is the multicolored one.
Step 2: Strengthening the Pickpocket
Now begin to wrap tape around the part where the pocket for the gift card is. On this part, only wrap one strip around near the part of the holder that folds. Also, measure and tape the end of this part of the holder. Make sure you DO NOT wrap over the semicircle that the small flap fits into to hold the whole thing closed.
Look at the pictures for clarification.
Step 3: Cutting Slots for the Picks
Remove the pick and follow the cuts through to each other, making sure that they go all the way through the material. Your first pick slot has been made. Repeat this four more times in the places shown in the last picture to have your five pick slots.
Voila! You are done! Fold it up and you're picks are secure. You don't have to dig through your guitar bag anymore searching for a specific pick. Now you have them all in one place! If the sides look like they are in danger of ripping, just cut a thin piece of duct tape and stick it on to reinforce it. If you want, reinforce the folding parts with small pieces of duct tape so they don't rip.