Drop it off a building and make modern art.
lol @ fooling people that sony makes macs now.. I say fix it or sell it for parts..
You can replace the drive in it and make it into... a PS2. Not much in a PS2 you can salvage. The board is all surface mount and heavily integrated (just a few big chips you can't reuse). A few LEDs that aren't worth the trouble they'll be to get off the board. Maybe a motor and some gears in the drive, that's about the most useful thing.
Take everything out of the PS2, fit a Mini-ITX board and a slim DVD drive. Fool your friends, tell them you installed Windows or Linux on a PS2. Or gut a Mac Mini, fit it into the PS2 case and try to convince them Sony makes Macs now.