I'm truly a fan of anything that has dual purposes. For example, using cutting boards as plates or bracelets (from Forever 21) as napkin rings. I've done both these things when entertaining a la al fresco. Another product that is multi functional is bubblegum! Aside from being a lip smacking childhood pastime, it can also be useful for dining and entertaining.
Ever accidentally boughten candles that are too small for your candleholders? Fear not! Here's a delicious trick to make the candles fit perfectly. Grab a piece of chewing gum and chew it into a gooey paste. Stick it on the bottom of your candle and quickly squish it into place in your candleholder. Though not the most ladylike of crafts, it's guaranteed to make your candles stand straight and tall.