I collect dried-out markers in my classroom and have turned them into lovely liquid watercolors. But to prevent the kids getting frustrated by repeatedly trying more and more markers from the box and finding dried out ones, I have the students put the old, dried out markers in the "Marker Monster." He holds the old markers in his belly until I am ready to make a new batch of watercolors. I just covered a copy paper box with black paper, cut a slit in the front, added the eyes and fur.
I even let the Monster eat Sharpies, because they too can be revitalized using NAIL POLISH REMOVER. Yes! It works! Just soak the tip in a little bit of the nail polish remover and recap the sharpie. Overnight, the liquid refreshes the ink!
So far they are in love with the Marker Monster. I love his crazy teeth, which are now splattered with various marker smudges. It's a little macabre I suppose, but oh well.