Give new life to outgrown clothing, fabric and paper scraps, and other materials lying around the house with our wallet-friendly craft ideas.

Use leftover fabric scraps to make cheerful favor bags for party guests.

Turn a diverse collection of castoffs into a dashing throw.

What to do with old brooches and earrings you -- or Mom -- no longer wear? Give them new life as a chic ribbon necklace, of course.

Kids go through cereal fast. Make use of all the empty boxes by turning them into handy holders for their desks.

Give an orphaned pillowcase a new home over your shoulder as a pretty tote.

Your child's favorite outgrown pants can be more than a stylish memory if you turn the pockets into a hip purse.

Dad's outdated suits and corduroy pants can be transformed into a collection of mouse toys for Kitty.

Got leftover ribbon scraps that are too short to tie into bows? Turn them into colorful mounts for photo albums and scrapbooks.

Antique teacups that have lost their saucers still make sweet gifts and favors when fitted with candles.

Give wonderful new purpose to pretty fabric remnants by turning them into blankets for a newborn.

Here's an easy way to transform an old towel into a trendy beach accessory.

Instead of buying fancy coasters, decorate inexpensive glass coasters from outlet stores with scraps of your favorite paper.

Why buy notebooks when you can make lovely ones of your own using card stock and scrap paper?

Turn one of Dad's old button-downs into a sweet knapsack for a little girl.

Learn how to turn ribbon scraps into pretty and sturdy bookmarks.

A few stitches can transform leftover scraps of ultrasuede into a colorful iPod case.

Make these charming strawberry pincushions out of colorful fabric remnants.

Give wrapped packages unexpected panache by using leftover yarn in place of fancy ribbon.

Instead of buying a stuffed animal for a baby shower or birthday party, transform an outgrown wool suit into this charming toy bunny.

You don't have to spend a cent on a new leather watch strap; just replace a broken or worn-out watchband with grosgrain ribbon.

Make this adorable kids' oven from a cardboard box and other materials found in your home.

Everyone has a stash of buttons they'll never use -- why not affix yours to a tin lid and make your own one-of-a-kind clock?

Use wool remnants and scraps to sew a cozy for your hot-water bottle.

These whimsical place cards require little more than kraft paper and a simple folding technique.

If you're going to do creative work, your craft supplies should look the part. Here's a way to decorate basic jam jars with lively fabric scraps.

Old belt buckles can take on a new role as miniature picture frames and refrigerator magnets.