I had this beautiful fabric and wanted to make something that would really show it off. I thought a flowy skirt would be perfect! (Bonus: this skirt can also be worn as a strapless belted dress!) Check out the link below for more pictures and details!
Cut your fabric to the length you want it. The wider it is, the more flow you'll have. (Be careful, though, unless your fabric is super thin, you'll end up with a bulgy waistline if it's too wide.)
Hem all four sides: The bottom, left and right by your usual seam allowance, and the top by the width of your elastic. The elastic should fit snugly in the hem, there shouldn't be a lot of wiggle room.
Slide the elastic inside the top hem/casing and sew the two ends together, overlapping them 1 inch.
Sew the top hem/casing shut and sew the right and left sides of the skirt together. Bam. Done. Finito.