This is really cool.  I usually don't get into arts and crafts, but if this involves drinking beer, sign me up!  This video shows you how to turn a 24 oz beer bottle into a pint glass.  If you don't have a glass cutter, I got another trick for you after the video.

Instead of using a glass cutter, my wife showed me this trick.  Take a piece of cotton string, loop it around the bottle where you want to cut it.  Soak it then in nail polish remover, and light it on fire.  It will go out after a few seconds.  Then submerge the bottle in cold water and the top will crack off.  Obviously,  be careful with this project!