Craft a knife block
I came across this project for a knife block by Chris Diclerico on Flikr. The original design is by Martin Robitsch and you can purchase online at greenergrassdesign.com if, that is, you can afford the $125 price tag. Of course, you could always make it yourself ...
The project itself is extremely simple and all you need is 4 pine sides and a base for the block, plus plenty of wooden skewers. Use Ponal wood glue to assemble the box and fill up with the skewers. And there you have it, the perfect knife block for all your knives.
Shop for pine at your local Builders Warehouse or Builders Express and select a piece that has no knots or blemishes.
If you don't own a jigsaw or circular saw, you can have the wood cut to the exact size at the store. Most pine comes in long sections of various widths, and if you plan ahead you use the entire board for various projects. Make a cutting board, or a key holder, or for the more adventurous - a small shelf for the bathroom.