Interesting, looks like they are taking the principles of FOSS and applying them to hardware and design. Still, I think it's not exactly what I'm looking for. Is there an community like the FSF that allows hobbyists and EEs alike to share and freely license their schematics/designs? I don't have any extraordinary schems (mostly for guitar pedal circuits), but I think it would be incredibly cool to have a site and community that did just that.

@cigarBGuitarEfx OSHWA appears to be a big one.
Otherwise you can find some stuff on the Wikipedia article on open source hardware.
Not sure if that is exactly what you want, I haven't really looked into it other than getting some stuff myself.
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