They're called different things: Scrap Catcher – Scrap Caddy – Scrap Bag - Thread Catcher – Scrap booking Caddy, etc. Although I wasn't sure what to call it, I knew I wanted one. REALLY wanted one.
So I took some green cotton and made one. I used rice as a weight in the top part that sits on the table and used a 3/4 inch slice of the juice bottle (from the last project) inserted into a casing around the top edge of the bag to give it some rigidity and shape. I did some freehand quilting and applied rug-backing-goop on the top weighted part so it clings to the table. I connected the top part and the bag part by means of a grosgrain ribbon.
And I've already started using it.
All in all, I'm pleased.