Today I made some coasters out of CDs. It probably took about 1.5 hours, not including drying time.
I used CDs that were otherwise trash. I primed and spray painted them.
Then I found some tiny pictures in a magazine to put in the center holes. Since these will be used as coasters and will probably get wet, I laminated the pictures with some laminating sheets I had. You could probably just use packaging tape, though. You could also skip the pictures all together. I find them entertaining.
I covered the backs of the CDs with duct tape. This added a little more structure to the pictures, and it gave the backs a little traction, so they won't slide all over the place.
Here's an action shot:

And here are close-ups of the centers:

These were all t-shirt designs in a catalog we got in the mail. The top, middle one is two frogs drinking beer, and the top, right is a woman standing on top of a mountain.
I'd love to see what kind of projects you guys are up to. Feel free to post a link or description as a comment. Thanks for reading!