Depending on size of the rod holder...
It could be mounted sideways and use to display either a wall quilt or a folded up regular quilt.
Also mounted sideways-- Could affix cut rods or dowels (well enough that they don't fall out), and use it for hanging things with hooks-- strips of fabric, templates, ribbon, etc.
Depending on how stable it is, you could also make a side table. If the top isn't quite large enough, you could go to a glass place and have a nice piece of plexiglass or similar cut. For more stability, you could mount the bottom to something just a little larger.
You could also have a floor lamp made from it. You could DIY with a lamp kit or parts.