Saree is one of the most graceful Indian outfits and there is no denying the fact that you can wear it in a million different ways. It, however, takes considerable amount of skill and practice to do it right. If you are attempting to wear saree for the first time or want to do it in a perfect way, check out this post from Leia of Leia's Delights - a gorgeous fellow blogger who explains how to master this art.
If you wish to experiment and/or add a little more “oomph factor” to the saree, here are some ways in which you can play with it.
Word of Caution: Well, not literally. But, one small thing to keep in mind while experimenting with these styles is to pay special ATTENTION to your choice of blouse / top. If you are wrapping it around your neck (like a scarf) you want to go a slightly conservative with the blouse. With the regular style (Ist Pic), you are safe with halter or noodle straps or pretty much anything. If you have a dazzling top to show off, then 4th style in the picture above would be the best.
Also, never throw away your old sarees. My mom always recycle them into salwaar kameez or dupattas to make a whole new outfit.