I have found a berry basket, the kind that strawberries are often sold in, to be a very convenient way to store pet toys. I keep a basket filled with toys on the floor so that my dogs can take out whatever toy they want. (They haven't learned to put the toys back though.)
The basket can easily be washed whenever I wash the toys. I have a second basket I keep in a cabinet that is filled with different toys. Switching toy baskets keeps the dogs from getting bored with their toys.
Is the dog always knocking his toys under the entertainment center, bookcase, or sofa, forcing you to get down on all fours to retrieve his lost treasure? If so, consider getting a piece of clear plastic, plexiglas, or lucite and securing it to the bottom of those pieces of furniture, just between the legs. Not only will this save you back strain, but it will work almost invisibly and help you cut down on dust under the furniture!
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I have found a berry basket, the kind that strawberries are often sold in, to be a very convenient way to store pet toys. I keep a basket filled with toys on the floor so that my dogs can take out whatever toy they want. (They haven't learned to put the toys back though.) 
"Berry" Simple Storage For Pet Toys