Probably to use to go T-P-ing. Sometimes kids vandalize property by stringing toilet paper in the trees. This is called "T-P-ing ". It is fairly harmless unless you are the ones who have to clean it up, and it is a waste of paper (and trees).
When making things from waste such as a dress, try duct tape, clean newspapers, paper sacks, and plastic bags. Other items such as empty food containers could also work for a fancy dress idea.