The best thing I've maid is a CD purse:
Thread some sort of strap (I used an old wallet chain, and it looks awesome) through the holes in the CDs and glue the ends to the nonprinted sides (make sure the printed sides both face out!).  Hot-glue some sort of weight (I used washers) to the bottom halves (on the back sides) of the CDs, because if you don't, the purse will flup over when you carry it.  Hot-glue a little drawstring bag (you can get them for free with makeup purchases sometimes) in between the two CDs, and voila!  A purse!

They're pretty small, they don't hold much.  If you want a bigger one, you can make it out of two records and just use a bigger bag inside.