UPDATE: A similar version of this is here.
Although simple in shape, the beauty of the granny square is that it generously offers a staggering multitude of projects just by adding rounds and rounds of it.
Here are some ideas I've dotted down.
Home decor: kitchen towels and potholders, mug rugs, coasters table runners, pillows/cushions, throws and blankets, valances and curtains, wall hangings.
Accessories: (pencil and other) cases, bags, sachets, scarves, warmers, headbands and even hats.
Clothes: Cardies, jumpers, sweaters, vests, dresses... do I need to go on? :) YES! Even jewelry - they are most suitable to make earrings and necklaces.
I made a rose-centered granny into a satchel. This one is great for storing small pieces of jewelry. Or maybe lavender. I haven't decided yet!