This is what I did with them.
Washing them to remove the soda/beer residue, I then used my trusty, We R Memory Keepers, Crop-a-dial to punch holes. I threaded small glass beads, onto head pins and added the bottle caps to the head pins. Topping with more beads and finishing with earring wires and I had a cute pair of up-cycled earrings!
As you can tell the Capt'n Eli's soda was popular ;) I loved the way they turned out and will make great gifts for my daughters and their friends for Christmas!