Baby Jars are for Babies
Count me as the only person who thinks this is a dumb idea. The idea is older than dirt, and just as useful.
I used to rent a house where somebody had done this in the garage. There's a number of problems. Unless the jars are practically empty and full of only one type of item, you need to spend the time to unscrew them to search through them, and then screw them back on. It's a two handed operation as you don't want them to slip out of your hand and fall and break. You also need to be careful not to break them while swinging around tools, lumber, etc, in your garage.
A much better solution is to buy a clear drawer storage organizer. They're still see through, more compact, and can be quickly opened/closed to search for particular parts. Oh, and you can get them for under $20.