When I start a new project, I generally cut the selvedges at 3/4". This little pile of pretty ends sits on my sewing table while I cut up the fabric to make the quilt (or whatever it is that I'm making), taunting me. Before I know it, I've left the 'main' project, grabbed some scrap backing and batting (which I have sitting in a large plastic tub under my sewing table) and sew a mini quilt which I then use these as coasters or trivets. Or give them to friends and family to use as coasters and trivets. Waste not, want not.
Usually, they go together with the QAYG method. Sometimes, if I've got time and am feeling inspired, I add layers of hand stitching or embellishment.
If I have it on the selvedge, I try to incorporate the fabric range name and designer in the little quilted coaster.
I seem to find new and inventive ways to use up scraps, and focus way more time on them, than I really need to, or possibly should.
Tell me, how you use your scraps? I'm always looking for ways to procrastinate from working on what I should be working on ;-)