First I start by taking pictures of my stuffed animals.
That way they go in the book so the kids always have a picture of it.
Then we purge.
Even if someone special gave it to them well the picture is a memory
Unless its 'really special' like a friend that passed etc. Then they can keep it and if they are too old for it it goes into their box for memories.
But the picture book is a great idea and works well for those bulky yet sentimental stuff you don't want to part with forever but don't need to keep around.