What to do with an unwanted Wedding Dress?

On my list of things to get rid of is my wedding dress from my first marriage. Although it was beautiful in its time, it is now very outdated. I also had had it preserved and now the fabric feels funky.

I have been searching the web for ideas and came across 3 that stood out from the rest.

1. The Mary Madeline Project.  They turn wedding dresses into burial outfits for stillborn babies. The website brought tears to my eyes. Check it out here  http://marymadelineproject.org/
2. Turn the dress into a family heirloom by making it into a Christening gown for my future grandchildren.
3. Trash the dress. (This one has some hidden appeal. I can burn the dress in effigy. Have it go up in smoke just like the marriage did).

I'm open to suggestions.  But, this is one I would like to take care of by the end of July.

Thanks!