The single greatest, highest, and most honourable use/uses for electrical tape is/are in the World of the Drum.

First use:
On the batter head of the snare drum, apply a few strips on the side. This reduces overtones and pings, which are Bad Things. Putting a wallet on your head doesn't work as they have a tendency to flop around and fall off.

Second use:
Used in marching band and on drumlines, the many colors of electrical tape allow you to make your marching sticks look flashy and cool, instead of boring and white. Many patterns are in use, depending on where you're at. But, for God's sake, anything but the lazy half-assed tape jobs that freshman and rookies pull: Covering your stick in one color and rolling another color over it with half-inch gaps is wack and should be discouraged.

Third, and possibly most important:
Wrap your fingers; blisters suck.