Use an old crib rail as a book shelf. I like this idea - it takes up zero floor space and the books are easy and accessible. Would need to figure out a way to secure it to the wall for long term use, and if you have little monkeys that want to climb it, that might be a problem too, but over all, great idea!
Underbed play table: A brilliant play area as well as useful toy storage for bedrooms that are short on space. The table will fit under most beds and rolls out easily. The storage drawer is on castors so your kids can just wheel it out for easy access. Features: reversible top with blackboard on one side and white on the other, and jute rope handle. @ http://www.gltc.co.uk/