I love my IKEA drying rack. The thing is huge, and holds tons of stuff. Or, it can be small to hold fewer things. It's great because it's made to stand up regardless of how much of it you want to have folded out. I use it for the typical drying of clothes:
But as a cardmaker and sometimes other crafter, I've found the rack to be most useful for drying inky cards:
I've also used it to air out old magazines. (Small tip: a fun and inexpensive gift is to find interesting magazines from the month and year someone was born.) I just set up the rack outside on the deck or in the sunshine on the lawn and let Mother Nature take care of airing out musty-smelling magazines that I've hung over the rungs.
I'm sure that given time I'll find plenty of other ways to use my drying rack. For more Works-for-Me Wednesday ideas, visit Rocks in My Dryer.