You could do all kinds of things!
You could stencil a t-shirt with some awesome Dylan-ness or any article of clothing
Embroider/x-stitch some lyrics or if you're really good you could try and embroider/xstitch Bob
Incorporate his lyrics into some sort of craft
Jewellery inspired by Dylan or his lyrics
Make a Dylan doll
You could pretty much give any craft/art a Dylan flare! Just listen to his music and get inspired by it!