You can make watermelon juice and watermelon popsicles :)

Below I've included some recipes courtesy of North Carolina Dept of Agriculture.

Watermelon Popsicles
3 cups watermelon juice
1/2 cup sugar
2 t. Fresh lemon juice
1/2 cup water

To prepare watermelon juice, cut watermelon into cubes and rub through a strainer to remove seeds. In small saucepan mix together sugar and water; simmer 3 minutes. Remove from heat; stir in watermelon juice and lemon juice. Turn into 2 ice trays. Freeze until very mushy and insert a popsicle stick in each cube. Freeze. Makes about 36 small popsicles.

I make watermelon juice by throwing wateremelon and water in the blender. This website I'm referring you to has so many interesting watermelon recipes. I can't believe there are watermelon muffins, salsa, and watermelon pie!

There are too many to post, but I'm sure you have enough watermelon to try out all of these recipes, Enjoy!
Source(s):
http://www.agr.state.nc.us/markets/commodit/horticul/melons/recipe.htm

Permalink | Report

mmm, watermelon. I found a few places with a number of watermelon recipe ideas to get you started. Now I'm hungry, thanks. :)

http://www.justfruitrecipes.com/inxwat.html
http://homecooking.about.com/library/archive/blfruit25.htm
http://homecooking.about.com/od/fruit/a/watermelon.htm

I also found this very interesting DIY on making a watermelon basket you might enjoy:
http://video.about.com/homecooking/Watermelon-Basket.--3T.htm

I also finally have an excuse to post this picture with it. :)
Source(s):
http://www.justfruitrecipes.com/inxwat.html
http://homecooking.about.com/library/archive/blfruit25.htm
http://homecooking.about.com/od/fruit/a/watermelon.htm
http://video.about.com/homecooking/Watermelon-Basket.--3T.htm

Permalink | Report

Art!
Depending on the size you could make a sculpture.
http://www.hopperhome.com/Rabbit-Watermelon_small.jpg
http://takashi64.hp.infoseek.co.jp/page009.html

But if you want to eat it
http://www.rabbitshirts.com/usrimage/cat37.jpg
Ice cream (so you can keep in in the freezer for a couple of weeks)
http://www.recipetips.com/images/recipe/dessert/watermelon_ice.jpg
http://www.cdkitchen.com/recipes/recs/37/FrozenWatermelonMousse63896.shtml

Jam (so you can store it for a couple of months)
http://partner4peanutbutter.com/img/watermelon-jam.jpg
http://www.tasteofhome.com/Recipes/Watermelon-Jam

If it is big enough you can eat part of it fresh and use the rest for different things.

Did I get the bunnies right?
Permalink | Report

COOL! Try the book, "play with your food" and make a carving as if it were a pumpkin. Put your fruit salad in it and serve at a party.

We'd all love to see a pic at Mahalo when you're done :)

http://www.amazon.com/Play-Your-Food-Joost-Elffers/dp/1556706308

It does freeze VERY well, cut in chunks or scoop into 1" little round balls with a "melon scoop" tool. Put in airtight container. Eat frozen if you like. YUM!
Source(s):
http://www.amazon.com/Play-Your-Food-Joost-Elffers/dp/1556706308

Permalink | Report

Simply,

CUT IT and EAT IT!
Permalink | Report

Eating watermelons might have the same effect on blood vessels as the common Erectile Dysfunction drug Viagra so I will leave the rest up to interpretation. Have fun.

-Quote-
Watermelon may be a natural Viagra, says a researcher. That's because the popular summer fruit is richer than experts believed in an amino acid called citrulline, which relaxes and dilates blood vessels much like Viagra and other drugs meant to treat erectile dysfunction (ED).
-quote-

http://www.sciencedaily.com/images/2008/06/080630165707.jpg
Source(s):
http://www.webmd.com/erectile-dysfunction/news/20080701/watermelon-a-natura...
http://www.sciencedaily.com/releases/2008/06/080630165707.htm
http://www.healthnews.com/nutrition-diet/is-watermelon-a-natural-viagra-135...
http://www.cbsnews.com/stories/2008/07/02/health/webmd/main4227219.shtml

Permalink | Report

Cut a hole in in and fill it with vodka, let it sit to soak in, then cut it up and have a party.
Permalink | Report

Eat it! Eat it now before someone else does!!
Permalink | Report

one option could be to try and see if you could shove... oh, wait, nothing!
never mind!!
Permalink | Report

Oh, there are so many things you can do with watermelon!

One of my favorites is watermelon wine. I've never personally made it, but I've had the homemade variety before and it was delicious. This site has some great recipes for it:
http://winemaking.jackkeller.net/watermel.asp

There are also many other drinks you can make using watermelon. Like watermelon mimosas!
http://laylita.com/recipes/wp-content/uploads/2008/06/watermelon-mimosa.JPG

Watermelon Rind Preserves are also incredibly yummy! My grandma used to make it when I was a kid, and it was a summer staple. Since your melon is so big, you could make several jars of it to have year round or give as gifts. Here is a recipe:
http://www.cooks.com/rec/view/0,1636,144171-243192,00.html

http://teaguescountrycorner.com/zen/images/products/fmj028-10.jpg

Another recipe you may want to try is fresh watermelon popsicles. You can find that recipe (along with some other watermelon recipes) at this link:

http://parenting.thestateonline.com/index.php/archives/687
http://parenting.thestateonline.com/wp-content/uploads/2008/08/fam-rcp-watermelon-popsicles1.jpg

You could also take up watermelon sculpting!
http://tbn2.google.com/images?q=tbn:ZXV6ZtUYfym0IM:http://blog.creativethink.com/images/2008/04/29/watermelon_butterfly_460.gif

http://tbn1.google.com/images?q=tbn:BaCR_y0fARG5QM:http://image52.webshots.com/152/3/40/33/518434033XrBGWE_fs.jpg

http://tbn0.google.com/images?q=tbn:HIUwwAEUFgM6QM:http://www.fotothing.com/photos/ab9/ab90f51e0c3e20f5abc6e0189e5ac2ec_609.jpg

http://tbn0.google.com/images?q=tbn:ciNoNLzyDo2peM:http://image62.webshots.com/62/5/81/81/2825581810086925293zcmicD_ph.jpg

And if all else fails: carve that sucker out and make yerself a hat!
http://farm4.static.flickr.com/3181/2696724875_b37154a152.jpg
Permalink | Report

Sharing it with your friends, the rest you can make some watermelon juice.
Permalink | Report

Mmm, a frozen watermelon margarita. Great party drinks. I'm not a big fan of tequila, but these are delicious! The only water to water the drink down is in the fruit. When I make 'em, I usually put a lot of watermelon in 'em and eat it like an italian ice type dessert.

Ingredients:
5 cups watermelon, cubed, seeds and rind removed (about 1 3- to 4-pound melon)
1 cup silver Tequila
1/2 cup Cointreau or Triple Sec
1/2 cup fresh lime juice
1/4 cup sugar
Watermelon slices (optional), for garnish

Directions:
Place cut watermelon in airtight container and put into freezer overnight.

Put the frozen watermelon and remaining ingredients into blender and blend until smooth.

Pour into margarita glasses and garnish with a wedge of watermelon if you like.
Permalink | Report

Arrange a competition among your friend circle or to your neighbourhood ask them who can eat the maximum slice and the winner can take the rest .
Permalink | Report

What I would do is I'd do is have either everbody come over and have them help you out to eat it or you can charge them 0.25 per slice or something.
Permalink | Report

I want watermelon NOW ! These posts are seriously giving me a craving !!! YUM ! My favorite way is to make fruit kabobs and put the melon in between strawberries and cantaloupe and berries or whatever fruits I have on hand - fruit on a stick ! An easy great summer snack for kids or a BBQ with friends !
Permalink | Report

You could always try to re-create the works of the comedian "Gallagher"...

http://www.juneauempire.com/images/051806/13659_500.jpg
Source(s):
http://en.wikipedia.org/wiki/Gallagher_(comedian)

Permalink | Report

* Watermelon-infused vodka. (you can also do this with the rind if you want to be really frugal, but you need to cut the waxy dark green part off first. If you use part green rind and part red it gives a lovely cucumber-melony vibe to it).
Chop watermelon into 1 inch cubes. Put into nonreactive covered container, like a coleman 1 gal jug, a sun tea jar, something like that. Add 1 bottle (750 ml) vodka, stir. Keep bottle for later Put in fridge, stir daily for a week. Strain vodka back into bottle, removing most of the solids. Store in fridge.

*Watermelon cosmo
1 part watermelon vodka, chilled
1 part Triple Sec
1 part cranberry juice

Shake with ice. Serve straight, in martini glasses.

*Melon prosciutto shrimp
2 dozen shrimp (raw is best but pre-cooked is OK, just omit cooking step)
one package pre-sliced prosciutto
1/4 cup heavy cream
1/4 cup melon liqueur
2 cups watermelon, cubed

Puree watermelon in blender. Strain to remove most solids. Add to medium saucepan, add melon liqueur. Cook over medium heat until mixture is reduced into a nice, thick sauce, a little less than half.

Meanwhile, grill the shrimp. Cut prosciutto into long slices that are just a bit less wide than the shrimp. Wrap the prosciutto around the shrimp.

When sauce is reduced, Taste, add salt if needed. Remove from heat, add heavy cream.

Pour melon sauce over shrimp. Makes great appetizer or first course.

*Grilled melon
Take thick slices of watermellon, rind still attached. Brush with a little bit of oil (neutral oil like canola, not a flavorful oil like olive). Grill over barbecue until you get grill marks, turning once.
Source(s):
Personal experience, have tried all of these recipes, some adapted from things I've had while dining out.

Permalink | Report

put it in your garden, climb on your roof and jump on it
or
use it for target practice
or hollow it out and make a little water melon house :P
what ever you do have fun :)
Permalink | Report

There are many answers for this, most that have already been answered. You could use it for any frozen or soft drink smoothie, carve it into a really neat design then have it frozen in a special material that causes the watermelon not rot or deteriorate to show off or even sell! Or, you could use it for target practice from a far distance, whatever, there are so many possiblities... ENJOY!
Permalink | Report