I have a lot of scraps that were purchased with the idea of something that never worked out, so I'm slowly converting them into different things. I'm making a lot of handkerchiefs with the pieces that are big enough so that I can have something nice to wrap up my lunches (look up Bento, a Japanese lunch). For the smaller pieces I'm making furushiki (I think that's how it's spelled, anyway) to wrap around my lunch containers.
For the smaller pieces I can see myself making a patchy hat or arm/leg warmers. If the pieces are REALLY tiny (like 3 inches or less) I make little decorative poofs that can be used as buttons or little accents.