Wrap it around yourself, with the ends overlapping at one shoulder, and use the cufflinks to hold the overlapping ends in place. Button the long sides together to make a long-sleeved shrug -- use fewer buttons on each end and make a short-sleeved shrug, with cowl (my current favorite). Make a sleeve on one end and wrap the free end around your neck for some asymmetry. Take out all the links and wrap it as a traditional scarf or stole.
If you plan to wear Convertible as a long-sleeved shrug, be sure it’s only as long as your “wingspan” (wrist to wrist, or as long as you like to wear your sleeves). I steam blocked periodically as I worked, to gauge the length more accurately, since -- like all lace -- this stitch pattern grows dramatically when blocked.