Ideally, we'd purchase a whole set of these LaCie color USB cables, but that could get a little pricey considering how many peripherals we'd need to purchase for.
So our short term and affordable solution are these Kableflags cable identification tags. Just $.99 cents for the blank versions, these tags secure onto cables with a flexible rubber piece. Another option would be these $2.99 Belkin Velcro Cable Ties, but then we might need a color key to remember which cables connects to what, and that's just more work than what we want right now; these seem better suited for home theater cables/cords than for USB use where plugging and unplugging is less of an issue.
Or I could start eating store bought bread more often!