A few months ago we swapped our bedroom with our daughter's bedroom. Since the kids were going to have to share a room we wanted them to have the "bigger" closet. I had planned on putting the dresser/changing table in the closet but it didn't work out. So I decided to make it into a play area. I moved all the toys from her room into the closet which opened up space for the dresser in the room.
Looking into the closet-
This bar holds all of her dress up clothes and accessories that are separated into different bags.
Left side of the closet-
Hanging shoe and clothes racks now hold stuffed animals and extra blankets and pillows. The shelves underneath hold boxes that contain her My Little Ponies, larger toys, and more stuffed animals.
I added a small basket of books to the floor so that she can easily sit in the closet and read to her animals.
Right side of the closet-
My husband added a shelf which holds her large play house. Behind her play house are her large dress up costumes (you can see the unicorn on the left side). Under the shelf are three small plastic organizers.
Drawers 1-3 hold her toob animals. Right now they are organized into Sea Animals, Carnivores, and All Other Animals. Drawer 4 holds her small Toy Story characters. Drawer 5 holds her toob set of famous buildings.
Holds all of her small My Little Ponies and the accessories that go with them.
Larger White Organizer-
Drawers 1-2 hold her Tag Reader, books, and activities. Drawer 3 holds all of her Hot Wheels.
We use the clothes bar on the right side of the closet for her dresses, coat/sweaters for the kids, my husband's suit and suit shirts and a couple of my dresses (these items are too long to fit in our bedroom closet). The top shelves of the closet hold extra blankets, a box to put clothes in that are too small, a box that contains the next size up of baby clothes and random stuff.