I love the never ending crafts you can make with a pot holder. To turn a pot holder into a Flat Iron Holder, I first found this cute polka dot potholder at Dollar Tree. Then I sewed up the side vertically and along the bottom. And now maybe my new Chi will last as long as it should this time!
You could also fold it the other way and sew horizontally and along the bottom for a sunglass holder! That's my next project.