I replaced broken off plastic tips of eyeglass temples [part that rests on ears].
Lots of shoelace tips too.
Covered screwdriver shanks, while not suitable for high voltage, made 12v auto work easier.
Have put short bands on other tools to ID special sizes, especially hex wrenches.
Put longer tubes, 1 1/2" long or so, on far end of thin machinists scales to help pick them up. In electronic assembly, non-conductive finger cots or gloves made picking up a scale sort of impossible, by 'masking' your finger nail.
By same token, used heat shrink on fiberglass probes and potentiometer adjusters. Find a hex nut that slip fits on shaft, lock in place with heat shrink.
Also tried as a spacer on shafts of a import rock tumbler, to keep worn tires in place. Worked so-so, made set screw collars; worked 100%.

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