BEND IT, SHAPE IT
Plasticine (the non-toxic modelling clay) can be used for a variety of things in a workshop. Here are some of my favourites: use it to make a small pool when drilling materials that require a lubricant; mould replacement parts; mould silicone stoppers and washers such as the ones under your toilet seat; fill pinholes in a plaster-of-Paris mould (taken form Popular Mechanics, submitted by Sean, Lakeside)