- find a bigger hook and use the chain as yarn for another chain (I have no idea if that would work),
- use the chain as you would French knitting and make rugs/placemats/trivets,
- use the chain to weave with by making a loom out of a picture frame or old tapestry frame. Again, I have no idea if that would work.
While you're thinking, here's some novelty yarn, stash-busting, side-to-side scarves.
*edited to explain that I include photos of novelty yarn scarves to show that I, too, can participate in maligned crafts activity - make as much fun as you like.