This is one of my favorite ‘tools of the trade.’ It is a magnetic pin cushion, although there’s nothing really cushion-y about it. I have seen them referred to as pin holders, pin grabbers, and pin dishes as well, but I still call mine a pin cushion. I own a few actual pin cushions, the soft, pillow-type ones that you poke pins and needles into. I keep them because of their sentimental value–having been made by various family members–but I use the magnetic one almost exclusively.
I like that I can toss pins toward it while I’m sewing on the machine. I don’t have to stop and aim and get the point of the pin into a cushion. I can just pull and toss the pin in one movement while I continue sewing.
I also use the cushion to pick up pins, more than one at a time. For example, when I’m finished cutting something out using a pattern, I simply pull all the pins and leave them lying on the pattern. Then I sweep over the pins with the magnetic pin cushion to pick them all up. Or when I drop a pin on the floor, I can just hold the pin cushion down near it, and it
magically magnetically pulls it up off the floor.
You can find these little beauties in a rainbow of colors and a multitude of shapes at just about any fabric or craft store.