My strips are 1" wide and 4" long. That means you can get 36 tags out of a 12"x12" sheet of cardstock. For ribbons that are smaller than 3/4" wide I've used a ribbon punch by McGill to weave them through. For the wider ribbons I've done the same as Jane and just stuck them in between the tags with double-sided tape. The rings I've used are 2". The coat hook (from IKEA) is hanging on the back of the door in my craft room. The door is normally open, so they are conveniently tucked away, but always easy accessible. Before I changed my ribbons to this system, I used to have them in storage jars from IKEA, but I got really tired of having to tip out the whole jar to get to that one ribbon and them getting all tangled up and creased.
Hopefully you're all having a nice Easter weekend. Today the weather was finally somewhat warmer and sunnier. This afternoon we went for a nice walk into town. Next week I'll be back with my clear stamp organisation.