They show up around Easter and basically last forever after. They start out nasty and progressively get nastier, but they have the ability to somehow survive unendingly. They're invincible. What is one to do with all those little sugar crusted marshmallow buggers?
The official sight of Peeps. http://www.marshmallowpeeps.com/ All sorts of crafts and recipes.
(my personal fave would be Peeps with fondue. I don't like chocolate and I definitely don't like Peeps, but I love skewering just about anything.)
You could learn some "fun" facts about them. Cause nothing impresses people like knowledge about marshmallow foul.
You could try and set some NEW Peep world records.
You can make art projects, like this portrait of Obama...? (and infinitely more ????)
Microwaving them is fun, if you like rather intense clean up.
You could have a party, feed them all to your friends so you don't have to eat them. And really, your friends wouldn't so much mind eating all of that sugar horror, if you wore this costume!
There are always the classic games, such as Chubby Bunny. (A game. Here's how to play 1. Stuff some Marshmallows in your mouth. 2. Try to say "Chubby Bunny" 3. Repeat until you can not pronounce Chubby Bunny coherently. -from Urban Dictionary) You may have played with regular old marshmallows, but you haven't lived until you use Peeps. They ooze (it is actually pretty vile...).
And of course, you can 'marsh' them ("Marsh;" a verb. the act of taking a marshmallow and roasting it over open flame. Also not really a word.). Once again, a warning. I've done it. Fun to watch it ooze, but absolutely AWFUL to eat it.
Hopefully that is enough to keep you busy for a while. Have fun, my peeps, doing things with/to all that loot you acquired over the holiday.