Still big, but it's small: There's been a bunch of "small round zip cases" at Australian Kmart, and Mimco too. I've also seen itty bitty travel cases, much like what someone down the thread said, by Kikkerland that would do a necklace, but it doesn't have a spot to get the necklaces not all knotted.

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Here is an example of the round cases, sadly Mimco doesn't make them anymore (I swear they did!)