Certain fabrics have a tendency to "pill", or shed little fuzzies all over themselves. Home-centric weblog Re-Nest shares a simple way to clean this fuzz off with a disposable razor.
You probably have a few disposable razors lying around, and they're surprisingly great for getting those clothes looking like new again:
To clean pilling off your clothes just spread the fabric across a flat surface (something firm like a table is best) pull the fabric taut and carefully shave the pilling away from the fabric. Be careful with the razor, especially around seams, buttons and stitching because you can easily cut the fabric.
You can of course buy de-pillers in stores, but if you have a razor or two lying around anyway, there's no reason you can't give it a second use — especially since one razor will last you a long time.