I wanted a convenient way of holding pencils for outdoor sketching. I've started using both Derwent's Inktense water-soluble and Graphitint water-soluble pencils, trialing a standard 12 pencil tin of each type. At first, I tried using them out of the tins they came in but it's awkard to hold onto the tin and withdraw a particular colour; as I was standing in a muddy field, it was absolutely hopeless. Now that I've tried this wrap, it improves things immensely.
Despite some doubts after reading others reviews, I found the wrap carries 12 pencils easily, with enough slack to allow easy retrieval and replacement of individual pencil (of course, these are the Derwent branded pencils as specified earlier. However, they seem like standard sized pencils).
With the wrap folded, pencils enclosed, its slim enough for any pocket - even a shirt pocket. The way I use it is to open the wrap out and fold the flap right back to expose the pencils fully. Then I hold it tight to the back of the sketch pad (either A4 cartridge or a Moleskine) with the tips pointing up just above the top. I find I can hold the wrap and pad pretty well with one hand like this, while standing, leaving the other free to select a pencil and sketch. (Obviously, sitting to sketch will be even simpler, where convenient. Also, I'm wondering if a large bulldog clip might make holding even easier for longer studies).
For under five pounds, it's a really good product. Likely I'll be ordering a second for the other set of pencils soon.