Make a patchwork lap quilt. Cut squares (4-6 inches) out of the good bits, and sew them together to make a lap quilt for watching TV, or cuddle round your shoulders when reading in bed.
You could sacrifice a tatty blanket of another colour and patchwork alternate coloured squares. Back it with a bit of cotton (old sheet) and to quilt it simply, just run a machine down the valley of each seam, or stitch by hand in each corner of every square.
To make it more interesting you could do Japanese stitching on alternate squares...its got a name, but forgotten what it's called. Seen it on yt. It's realy just making patterns with simple running stitch.