If it were my yarn I would want to know what it's made of. If it doesn't tell on the label, I'd test
it. I'd then grab some needles that look to be an appropriate size and knit a swatch. Based on that I'd figure out what it would be good for. Sometimes we just have to get in there and play with the stuff. Whatever the yarn really is, fiber and weight, etc., I'm sure that if you start knitting something will come to you. Have fun! and don't sweat it so much. It is only knitting and not worth having a crisis over.