think about some of the crazy quilts with their bits of velvet and lace and whatever was around. I think the only thing you would need to be worried about would be if certain pieces would shrink (prewash everything), if certain pieces would bleed (again, check by prewashing), if it stretches (stabilize it) and will it be difficult to quilt through (test it). Other than that - go for it! Quilting is supposed to be fun and there are no quilt police!