I decided I wanted a tea cozy. I looked through my craft books and patterns and tried a few. Nothing really seemed to work with the scraps I had in my stash so I tried doing my own thing. After several false starts with a knitted cozy, I switched to crochet and eventually created this:
While its not exactly as I would like, it will do for now. Some day when I have less going on I'll actually go out and buy new yarn and make one of the tea cozies from the "Bazaar Novelties" booklet.