The Vintage Quilt we Called the Cuddle Quilt

I loved this quilt at first sight for its dominant red and green colors.  Now it is in tattered rags after years of regular, rugged use.  (It's been folded away for 20 years.)  We've always called it the Cuddle Quilt because my young daughters spent hours on it, under it, or with it wrapped around them, sometimes with me holding them.  We found it at an antique mall in 1986 or 1987 and were too poor to buy it outright.  We put it in layaway and finally brought it home six or eight weeks later.

I didn't know much about quilts or quilt patterns then.  After close examination today I realized that each block has a red center, an hourglass block on each side, and log cabin-ish blocks in the corners.  (For anyone who wonders, the green in the photo below is most accurate.  Was it was called Nile green?)

When four blocks are joined, the small red corner squares form sized red squares similar in size to the center squares.  Except they don't exactly line up.  And the green cabin blocks don't exactly align, either.  Was this a scrap quilt?

There are an abundance of floral fabrics.  That red and white floral print is used again and again.

There are some non-floral fabrics, too.   I think the fabrics are from the 1930s-1940s.

In some of the blocks the hourglasses are made of the same fabrics, in some they aren't.

It's a hodge podge of colors (mostly pastel) and prints (mostly floral), all contained by the red squares and the green cabin-ish blocks.  A quirky quilt, don't you think?

Did you notice that blue and pink Kaffe Fassett-style print?

The stripes in the block blow are printed, not stitched or patched as I first thought.

There are irregular green strips in the corners, below.  Some blocks don't have green all the way around.

More stripes, not necessarily the same in one block.  These seem to be clothing fabric.

This quilt was tied with yellow string, mostly worn away.  Instead of batting it has a flannel blanket.  The fabric on the back is red. 

A fairly large hole on the back, above, had been covered and primitively repaired, with a second repair in the middle of that one and another at the corner.  Below is the repair on the front.  Some of the edges, too, were in bad shape and had been fixed.  Or not.

I loved this quilt when we bought it and I love it even more now that I know a little more about quilts.  But the question is what to do with it?  Lori's antique quilt block challenge comes to mind but I don't think there's a single piece of fabric in this quilt that's strong enough to withstand being unstitched and have fabric reattached to the edges, then quilted.

What to do?  What to do?  It's in such bad shape, but can I really throw it away?  What would you do with a quilt like this?

--Nancy.