Yes, Yes I do keep EVERYTHING my child creates.....whew, I said it. Now, to tackle it! I started taking pictures and making Snapfish / Shutterfly* books with his art. I chose a 12x12 style & lots of clip-art & poems off of the internet to highlight the "theme" of his art. Because I am a saver/hoarder, I also still had his preschool calendars....so, I knew the date and "day" (theme) they were doing at school when the art was made. I then measured them & typed up a caption for each piece of art, in the same way a gallery would label a piece. The best part of the book was being able to put in pictures of him doing/showing his art or even a field trip after a week of themed art projects on the page as well.
*To get such a big book at a great price, I use MyCokeRewards and cash them in for Snapfish / Shutterfly credits....they have great deals when using "Coke Points" to pay!