If you have extra fabric and trim lying around, use it to wrap presents. I hot glued the fabric to the boxes to make sure they didn't move about, but they could also be taped with strong double stick tape. The fabric can be reused for all sorts of things.
I'm not a great knitter but the woman who made this sweater from Goodwill was! I took it and was able to make two big stockings from it just one sweater just by tracing a stocking I had and sewing up the sides. There was also enough knit left to cover one of my holiday houses in the UCLA Commons Window.