Abstract: There is provided a modular storage and dispensing unit for storing rolls of ribbons and rolls of wrapping paper. The storage dispenser includes a housing having first and second shell portions each having an interior and an opening. The shell portions each have a plurality of mounting elements provided therein. At least one storage container and at least one ribbon roll mount are releasably mountable to the mounting elements. At least one wrapping paper roll mount being releasably mountable to the mounting elements, the wrapping paper roll mount configured to mount the rolls of wrapping paper in the interior along the length of the shell in a parallel arrangement such that all of the wrapping paper rolls are visible through the opening. The storage containers, ribbon roll mounts, and wrapping paper roll mounts all being configured to be mounted in the interior of the shells in a plurality of different positions.