Abstract: An elastic band holder is comprised of a generally rectangular-shaped or generally cylindrical-shaped body member having one or more concave slotted portions encompassing the body. The slotted portions can be disposed in either parallel or perpendicular orientation to one another. All corners and edges of the device are rounded in order to prevent elastic band shearing. One or more receptacles are located on the body to receive and hold additional objects such as pens, pencils, rulers, paper clips and the like. Mushroom-shaped and apple-core-shaped embodiments are also provided.