Here are two DIYs that make great reuse of items that might otherwise be tossed.
Jennifer Brasher at Two Butterflies came up with a bright idea for giving new life to odd vintage clip-on earrings. She turned them into rings.
And check out the Smartest and His Artist for instructions on how to bleach and then dye an old pair of jeans. Jump into colorblocking for less. (Also worth a visit just for the extremely funny profile photo.)