Sweet Verbena: T-Shirt Refashion Great for if you get a stain on the front of a tee, but awesome anyhow. When looking at the tutorial, I thought the pins were pearls, so think sewing tiny pearls along the edges could be pretty, too.
DIY Lace Inset Tee Shirt Restyle Tutorial from Handmade Mess here. I am really impressed by how detailed this tutorial is. She even tells you what key words to use when searching for lace. She used twin needles for the jersey (and those run about.