Use the "tape" from old VCR tapes just like ribbon when wrapping gifts. (It looks particularly striking with plain white paper.) Apparently you can take the whole contraption about with a screwdriver, and the tape will curl just like ribbon if you run it along the edge of a blade of scissors. I haven't tried this yet, but it's on my list.
(From Simply Green Giving, by Danny Seo, page 75.)
I've been hoarding VCR tapes and driving The Magician crazy ever since I saw this: