In one illustrative example, a guitar pick holder is made of a thin, flat, and visually appealing flexible magnet which adheres to a front outside surface of a guitar. A guitar pick which is used with the holder is made of a synthetic material but also includes a magnetically receptive material (e.g. iron) formed on or within the synthetic material. The guitar pick is magnetically held against a front magnetic surface of the flexible magnet and is thereby carried with the guitar, even when it is subject to relatively strong forces of accelerative motion (i.e. when the guitar is physically handled or shaken).