When you being to wonder what people do with their lace, and envision little doilies all over the furniture and hankies in the drawer, look a little further. There is a wonderful contemporary implementation of lace created by Joep Verhoeven. It's the most beautiful chain link fence I've ever seen.
Of course, there are jewelry interpretations of lace. Gloria Valli's site shows her contemporary jewelry. There are also other "wearables" which the modest might not endeavor to don, but I wouldn't be too surprised to see on a runway model.
There are also people who are doing more classic designs in contemporary jewelry form, such as Susan Lambiris whose site illustrates some of her work. She's working in Flanders, point ground and other lace techniques to create some really beautiful jewelry.
Set your preconceptions aside, and imagine how you might develop your own contemporary interpretation of lace.