About a year and a half ago, I learned the amazing fact that you can make vinyl records into bowls simply by heating them up and shaping them! What a thrifty and unique gift to give someone. I rounded up my friends when we all got together for a wedding and we attempted the craft.
If you're interested, here is a comprehensive post with photos and video detailing how to turn your records into bowls.
A big note to keep in mind is to make sure you keep your kitchen extremely well ventilated if you go the route of using the oven. As you melt the vinyl, it releases carcinogens so make sure you breathe as little in as possible.
Here's another great article with other things you can make out of records besides bowls like coasters and a mail organizer (below).
For my two cents, not only do they make great bowls for your keys and other objects, they also make fantastic hats.
Record bowl image from Wikihow.