I have made needle books (two pieces of felt 3"X4" layered, stitched through the middle and folded over). If you are in a guild, you could make a gift for the members, or if you have a bazaar table all the members could help out and cut and stitch them for sale. A small piece of felt beside your machine is great for catching little tads of thread. Pincushions would be fun. If it is all one color you could make a machine cover?? Lots of idea out there, hope you get a few good ones here.