Now, I love them. I love that they can hold way more than a paperclip without the permanency of a staple. I love how they come in various sizes so that you can choose just the right one that sits nearly flush with your papers without sticking out awkwardly. I love using them away from the desk. But enough about that.
Louis Baltzley is credited with inventing the binder clip in Washington D.C. in 1910; a patent was granted in 1915. Back then, the most common method for binding larger amounts of paper together was punching holes and sewing them together. Not exactly a very versatile solution.
Binding things together
Desk-side cable management (via Lifehacker. I do this at home.)
To keep toothpaste rolled from the bottom up rolled (I do this, too)
Makeshift clipboard (binder clip + thin, hard surface)
Hanging a packet of things
Duvet cover clip
Keep trash bags from slipping down
Refrigerator beer stacker
Fun with binder clips