In addition to tying Clousers etc with it I use it as an under wing for many of my marabou streamers. It provides just enough support to help prevent fouling of the marabou. Sometimes I'll use the same colour or other times a contrasting colour.
It does make for a very good pike fly. If you use it sparingly to build the wing it seems to retain it's individual strands of hair vs turning into a lifeless "block" of hair.