You can spin silk noil as "fluff" -- take a handful, open it up, and spin away -- for a textured 100% silk yarn.
My favorite thing to do with silk noil, though, is to rainbow dye it (small bits in each of the leftover easter-egg dye pots, usually) and then card a mix of colors into a wool base to "pop" the wool. I got this idea from admiring all the Crosspatch blends -- she puts silk noil in almost all of her blends, and the pops of color really do take the wool up a notch!