Depending on how much room you have horizontally to hang something you could:
Hang it on the wall near your desk to put stationary / blank cards for writing on it. This way its a visual reminder to write and send that letter or thank you.
Same as above but hang ribbon or fabric scraps from it.
You could affix it to the ceiling, either a little off of it or hanging and use it to hang small things to dry. (assuming you do some sort of craft where you would need that, I do hehe)
Somehow make it so it will stand vertical in the garden or a pot (maybe with wire or sticks) and use it to have a plant climb on.
If you go car camping (not hiking in) you could bring it to set over the fire pit to set your pot on when camp cooking. (not really crafty but a use none the less)
The sister torturer idea holds a lot of merit too! I'm not really sure how that works but I am intrigued. Usually I would just torture my sister by leaving waters spots on her table.
If you wanted to get a little out of the box, could you weave something into it? I'm not really sure what or how it would look, its just some random thing that popped into my head... what about weaving all kinds of bits and pieces for birds nesting in it and then somehow affixing it outside... or affixing a bird feeder to the center and hanging it.. then the birds could sit on the crossbars.
I'll stop now...
*edit* I lied! you could use it as your paint buddy and put stuff on you were painting and have newspaper or something below to drop on.