1. Can be used as dividers: Chain link fence can be good dividers. It divides the room, but you'll be able to see what's on the other side as well
2. Can be used as hangers: You can hang your bags, trinkets, paintings, etc. Place this against the wall, and hang whatever you want.
That's as far as I've gotten as of the moment. You can paint the divider into whatever color you want (red fence against a white or black wall, or paint it silver). It gives this steampunk-ish feel.
Check out the pictures showing this divider in action. Sorry about the unpolished drawings tho haha.
I think putting up shelves against the fence is possible, though I haven't thought about that idea much to make up a working schematic.