I decorated some cute little notebooks with the scraps, and figured I'd share the results. I think they'd make neat party favors or stocking stuffers for those of us who still like to write in an actual notebook.
I started out with a couple of mini composition books, but you could use big ones too.
I roughly cut a piece of wrapping paper slightly bigger than the notebook, and sprayed the paper with spray adhesive. (This is an important point because if you spray the adhesive on the notebook cover instead, you'll inevitably get glue on some of the pages.) Cover the book with the paper, working out any bubbles. The glue will reposition for a few minutes. Trim off any extra paper. For durability, I covered the books in clear contact paper from Dollar Tree after the adhesive had time to dry.
(The cool wrapping paper came from Hobby Lobby. You could also use scrapbook paper or some of the kiddos' artwork to cover the books.)