A few years ago my Granny had an old mink coat she could no longer wear. My mom came up with an ingenious idea...turn the fur into teddy bears! She sent it off to a company that did just that (similar companies can be found through an internet search) and we ended up with four adorable little furries (I added the bow for a finishing touch). One for Granny, one for mom, one for me and one for my aunt.
He's like a giant Steiff bear; his arms, legs and head move to see what I'm doing throughout the day. I love knowing that his arms once kept my Granny warm (here he's perched on her sofa). I hope my daughter will enjoy having him by her bedside for many years.
Create a teddy if you want to turn your heirloom fur into a piece of nostalgia (or if you're just against wearing fur for p.c. reasons). If, on the other hand, you're not so p.c. and think nothing of wearing your fur to the grocery store, you might want to check out this earlier post for another idea.