Our dress-up area in the kids' playroom, aka our den, consists of three parts:
1. Pegboard from the hardware store, on which we have hung hooks of various types. All the hats, belts, jewelry (in a wicker basket that has a hook), and coats go there. Dress-up shoes and boots are lined up underneath.
2. A full-length framed mirror (the inexpensive kind that goes on the back of doors) is screwed to the wall next to the pegboard, so the kids can admire themselves.
3. Sitting on the other side of the pegboard is an old wooden console that used to hold stereo equipment (got it at a garage sale for $5) -- it is our "dress-up chest." It's about 4 ft. high, maybe 21" wide, and has 4 deep shelves, each of which hold a plastic box filled with various clothing. On top is a basket (it's a wicker Easter basket, actually, that we just empty out every Easter to temporarily hold eggs, lol) that holds gloves, scarves, and smaller accessories that might otherwise get lost in the shuffle. On the sides of the console I put several of those stick-on hooks, and they hold purses and backpacks.
This was a very inexpensive, but effective system for holding a large number of dress-up clothes (ALL my kids play dress-up ALL the time, so we needed more than just a box) and my kids can clean it up quickly, with no fuss, all by themselves -- my favorite part of the whole deal, lol!