When I was growing up, old car tyres (tires, if you will) were used for making swings or as floatation devices in river rafting scenarios. This kind of upcycling is all good and well if you like to play all day, but if you have to go to work then allow me to present to you a more suitable application.
Cyclus make bags and accessories out of recycled inner tubes, shop awnings and umbrellas salvaged in and around Bogota, Colombia. They also incorporate fabrics woven by indigenous tribes with a profit payback scheme to ensure that money is paid back to grassroots development. So you see it must be true - what goes around comes around.