How can I transform this into something functional or cute?

You can use the peg slats on another solid board or individually as a necklace hanger . I have mine mounted on wall behind my bedroom door. Hidden when door is open.

Hi Ann, if you no longer want or use it for thread, why not take it apart and use it to make several key holders to give as gifts? My immediate thought was the same as Kelli's. It would make a good jewelry holder (or maybe more than one). Those thread holders have become quite expensive, so maybe a friend would enjoy and make good use of it.

Hubby has one in garage against wall ...hangs screw drivers etc. on it

I actually have 3 of these in my sewing room. I, too, had knocked mine over many times with thread going everywhere. I tried double stick tape to secure them to wall. Couldn’t nail them to the wall because there are plumbing pipes in that wall. That was a disaster!! I finally came up with this idea. They are hung from the bottom of cabinets above my sewing machines. I put my threads by color family on two of the racks and just bobbins on the third. Easy to find and out of the way and not falling over. It’s about time to get more thread of the colors I use regularly. 😆 Hope this idea helps you solve your thread dilemma. I know it fixed mine.

Southeastgeorgiapeach

GO DAWGS!

If you have no other use for it, make it into a ring toss game.

I would frame it and use as jewelry display case

I would separate the rows, paint it to go with the color of my kitchen and use it as a pot, pan and utensil organizer on the wall.