What to do with hideous, multicolored, acrylic yarn?

My grandmother gave me a bunch of yarn (awesome, right?). The problem is, there are several skeins of hideous, multicolored, acrylic yarn, sort of like this: http://www.joann.com/joann/catalog.jsp?CATID=cat2876&PRODID=prd31107 (the colors are a little bit more obnoxious than those) Since it's 100%... show more My grandmother gave me a bunch of yarn (awesome, right?).

The problem is, there are several skeins of hideous, multicolored, acrylic yarn, sort of like this:
http://www.joann.com/joann/catalog.jsp?C...
(the colors are a little bit more obnoxious than those)

Since it's 100% acrylic, I don't really want to make clothing or anything like that.

I'm a very versatile knitter, and I know there must be something cool I can make with this yarn. Does anyone have any ideas?

Knitting skill level: Intermediate (but ambitious!)
And I don't really know how to crochet.
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