I use mine for t-shirts, sweatshirts, cotton knit nightwear. The stretch and sew type patterns have great directions and several sizes. A t-shirt or sweatshirt takes about 1 1/2 - 2 hours from cut out to finish.
The chiffon scarves are very pretty and make great gifts. Buy two yards of fabric then cut in half or thirds lengthwise and use the rolled hem foot. It also is great to use 1 1/2 yards of wool the same way for neck cloths for men.
I make my own napkins, 18" square and again use the rolled hem foot. I don't buy paper napkins, cloth is cheaper in the long run, washes,and is better for the environment. They also make great gifts, especially if you can get the fabric on sale.
I have done smaller quilting projects with the serger because it can be adjusted to a 1/4" seam allowance. It works great for crazy quilts using the fancy fabrics that fray.