Why do we love this idea? It's three things in one: storage + display + lighting...
We saw this lampshade at a local Pottery Barn Kids store. It’s available online for $99.00 in blue and red (though something similar could surely be found for less...).
Just take a lampshade and sew the cloths pins to it – it could be a fairly simple DIY project. And a truly "bright" idea!

White Enamel Flatwa...
Nope, sorry...........
I don't love it, either. While I appreciate multitasking, I find it lacking in aesthetic appeal.
It reminds me of grade school.
I can only see myself doing this if I needed to leave a very important note for a family member in the morning.