I love my serger. I use it in concert with my sewing machine for many projects. I am enclosing a picture of my serger crazy quilt. I just pile up scraps from the bin and start serging them together in any old way planning that I will have a 15" when all is said and done. I make it bigger than I need and then trim it back with a large square template. I don't worry about bias edges as when done I serge the edges of the whole block, and then make quilt as blocks for a rather large quilt or as panels for a nice sized crazy tote. I made a big one to hold my serger accessories and instruction book. Handy dandy for traveling to a class. Also sewing the trimmed blocks together can make a wonderful crazy quilt for baby. I find babies love the riot of color and pattern and the serging makes the seams so strong they can safely teeth on it. Did your kids chew on their blankies when teething, mine did.
Sewing with Nancy on her web site has many free videos for serger projects. One thing I use all the time is to use the rolled hem feature on long strips of fabric that will be gathered and used for ruffles on all kinds of projects. Also the serger drippings....the long thin strips that come off the cutter can be saved and used for making fringe on all kinds of fun projects. I do recommend you get one with the self threading feature as it makes serging sooooo much easier.