I've finally gotten around to sorting out our spare room, turning into my craft/sewing/painting room. I needed a place to put all my paint brushes so I decided to dress up some old glasses with yarn. I used a wine flute and a beer glass, so they would hold different lengths of brushes nicely. It's pretty easy and I think it looks great. All you have to do is wind the yarn around the glass, gluing as you go.
