My aunt used to make lots of interesting things at senior day care. One was note cards with sunbonnet sue. They cut fabric for the dress and hat and arms, and drew in feet and hands. They used a quarter folded sheet of paper, but these could also be done with half a sheet of card stock. Then they sold them with envelopes in sets of 5 or 10.
Another project was Christmas card holders. They used old Christmas cards, cut them in the shape of a vase, punched holes along the sides, and crocheted them together, using a hexagon for the base. This could be adapted to use fabric with heavy interfacing. Depending on the fabric chosen, it doesn't have to be a Christmas Card holder.
The stuff bags that MaryStoaks mentions can be easily made using cut off legs from pants (I've usually seen jeans used). Just gather one end with a piece of elastic.