It can be used to stitch up a torn backpack and leave it stronger than the original. A bit tied in a loop can keep the kids entertained playing "Cat's Cradle". Braided togetter I suspect you could use it as a bowstring. The waxed one can be used as a small torch when you wrap a bunch of it in a ball around a stick (wedge it in a crack to keep it from falling off the stick onto your hand ).

-Blast