There’s many types of balsa wood boxes with lids at craft stores & I would embellish one of them.
If you want it hinged, the craft store should have fine hinges that one could epoxy onto the box.
I would line the inside with felt.
Ive seen all kinds of jewelry boxes for cheap at my local thrift stores and I would suggest embellishing one of those, as it has the dividers already in it.
It depends on your skill level. A fancy wood box is nice. Pre-made boxes are available. There are many styles.
Cecilia: maybe this will help
Here's what I did using a memory box: https://www.dollarstorestyle.com/keepsakeboxes/
You can repurpose something you find at the thrift store. There are a lot of felt lined silverware boxes that could be repainted and decorated for jewelry.
This is a cute and easy idea: https://www.youtube.com/watch?v=54vzPEA4Y-s
This is also a good idea: https://www.youtube.com/watch?v=_EhRKAAvWHo