This holiday, my wife and I constructed coaster sets for presents.
The coasters were cut out of old 78 rpm records that we had collected - we keep the one's we like to play on our hand-crank Brunswick record player, and the one's we don't (or the damaged records) get sacrificed to the greater good. I use a 4" hole saw on my drill press and cut each of the labels out. With a little sanding on the edges, they make great coasters. Most of the labels are heat pressed onto the shellac/vinyl composition, so they weather quite well with normal use.
We added a little booklet with seven drinks that we enjoy. The cover paper was something that my wife had collected a few years ago, and the interiors were printed on a color photocopier. Everything was hand trimmed (we only made 30 sets, so not so much work), the booklets were stapled in the spines, and the whole assemblage was tied together using candlewicking (purchased at a local craft store in rolls of 100 feet.
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Some of the page spreads:
