A very simple and quick project: I took a plain sweatshirt, that I rarely wore because sweatshirts just aren't very flattering, cut it straight up the center front, and turned it into a sort of cardigan. The raw edges became a little fuzzy, so I folded them over and sewed them down with a narrow zigzag stitch. Now it is much nicer to wear and much easier to layer. Next time I plan to try sewing binding over the raw edges to finish them; folding them over makes a gap in the center that is a bit wider than I would like.
Then I went and did the same thing for the oversized sweater that I triple-shrank, so now it's a jacket. The only difference was that I sewed two lines up the front first before cutting between, so that the edges wouldn't unravel at all. It works well, except that it is still quite large around the armholes, and I should probably take it in some there.