... into a throw blanket or pillow.
This craft takes a bit of time, but it's well worth the effort. Start by felting the wool (working the wool fibers in a washing machine until stitches are no longer visible). Then sew together the felted pieces to create a throw blanket or pillow. Make your choice based on how many sweaters you're willing to contribute to the craft. Our throw used about 12 sweaters; our pillow used only two.
... into a funky frame.
A bottle of wine is the gift that keeps on giving -- even after you've drained the last drop. Keep a collection of corks until you have enough to line a picture frame. Then superglue the corks along the frame's edge.
... into a modern metallic statement piece.
Gold-color paint makes almost anything look more expensive. If you received a floral arrangement for Christmas, simply mask off sections of the vase with painters tape, then fill in with metallic paint.
... into rustic pendant lights.
No offense Clark, but if you get a subscription to a jelly-of-the-month club, you're a lucky guy. You can transform empty canning jars into staggered pendant lights with only seven materials.
... into vintage wall art.
If you already have a copy of the season's must-read novel, rip out a few pages to create these botanical beauties. Print vintage images -- and an old paper background texture if you're using a new book -- onto the pages. Then glue to a linen mat and hang with clips.
... into chic place card holders.
If you're gifted a pair of clip-on earrings that aren't your style, don't donate them. Instead, add a touch of sparkle to your dinner table by securing a place card between the earring and its clip.
... into stained glass.
Add character to a classic family photo. Remove glass from a frame, mask off lined sections with painters tape, brush on paint with a foam roller. Remove tape, then let dry.
... into trendy dyed decor.
Submerge the towel in equal parts water and Lumi Inkodye paint. Wring out extra solution, then lay the towel flat. Place items -- like string or spoons -- on the wet towel and leave it in direct sunlight until the towel dries and color develops. Remove items, then wash the towel twice with Inkowash detergent.
... into a toothbrush holder.
OK, we know that every white elephant gift isn't, well, a white elephant. But if you're willing to think outside the box, most any gift can be transformed into something else. Make this fun toothbrush holder by drilling 3/4-inch holes in a wooden elephant figurine, then spray with a glossy white paint.