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This simple idea is a great way to be able to transport needed tools and extra supplies. Most bikes have room for two water bottles and in my case I never needed more than one for my daily riding. Since I had extra water bottles that had seen better days and an extra water bottle cage I decided to make a mobile tool box.
To make this water bottle tool carrier I simply took two old water bottles and cut them up. One bottle had the bottom cut off. The other had the top cut off and then I cut some lines down the sides so I could slide the top water bottle over it.
The system has turned out to work quite well. It is waterproof and holds everything I have ever needed on the trail, and road, for quick repairs. I even take some tape and roll it around the outfit in case I ever find myself needing to make a quick fix.
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The only thing that has ever been a problem for me is the fact that it looks like a water bottle and over the years of using this setup all of my kids have tried to grab it for a quick drink. To avoid that problem I have even started writing No H20 around it.