We've noted the IKEA Signum cable manager for its intended function in the past, but with minimal repurposing it can also be a useful storage repository for handbag addicts.
At IKEA Hacker, Jana details how attaching the $25.99 Signum to the wall gave her a useful means of storing her ever-growing handbag collection, and adding S-hooks let her double the capacity. You could also repurpose the device as a hat or coat rack. For more IKEA bag fan, convert an IKEA satchel into a messenger bag or make a netbook bag from a placemat.
Signum cable manager to handbag rack [IKEA Hacker]