I bought this old pulley at Canton Trade Days. It was dry and ugly. But I had big plans for it. I brought it home and sanded it down to bare wood. Then I stained it using Minwax brush-on stain in dark walnut. When it was dry, I polyed the entire piece, wood and metal.
I found a bracket at WalMart that is meant to used with hanging plants. The small wheel on the bottom of the pulley (where a rope would normally wind) was a perfect fit.
The large hook is now where I hang my hand towel by the sink.
Thinking outside the box for your household decor is fun and unusual--try it!