The next stage is to discover a new project. After all why should such a beautiful yarn be left unused simply because you made a bad project decision. Quickly you head over to Ravelry and search your queue for any projects that might work with the yarn. If that fails you can always search by yarn and see what other knitters are using it for.
Surely by then you've discovered a new and wonderfully exciting project to use the yarn for. You cast on quickly before you get side tracked again. After a few rounds are knit, you stop and pause. This also doesn't seem right.
Sometimes you may go through this process a few times until you are sure that you have chosen the right project. Sometimes this is a success and you are content with the alternate choice of projects for your special yarn and other times you trudge through the project just so you knit the yarn up and don't stash it until you also don't like that yarn anymore. Or if you are really frustrated that is exactly what happens. The yarn gets frogged once again from the current project and tucked neatly back into your stash bin. Hopefully it will eventually find a home.
Now it sits in the yarn bin wondering if it will ever become a scarf, sweater, sock or something equally useful and beautiful - and you are left wondering the same thing and also why you ever chose that yarn in the first place. When that moment happens it is pure knitting frustration.