Maybe I've gone a little hippie, but I loved this project that BUST Magazine published in their Aug/Sept 09 issue: tie-dye tights! What a great way to reuse old white hose that have lost a little of their whiteness. Just a little RIT dye and some rubberbands, and you'll be ready to rock.
I'm pretty sure that Look From London couldn't do any better (or cheaper). Click on the image above to make it big and read the directions yourself.