I need another project going like I need a hole in the head, but I think I'm going to start a poncho for myself. They're horrible and frumpy and all that, but come fall - which will eventually get here, even if it's hard to believe from the temperatures now - it'll also be nice and comfy and useful. So. I just have to decide what to make it out of, because the goal is to not buy any yarn for it. I have some stuff that I think will work just fine, though.
I also have a skein of boucle that is just screaming to be turned into a baby hat. :)