Use it for dye on wool.
if you arrange 9 in a 3x3 crafting grid, you can make a Lapis Lazuli Block. It's mainly meant for storage like the iron, gold and diamond blocks. However, unlike the others, it actually looks really good. It takes up a lot of a relatively rare material, but the effect is worth it. Besides, it shows up in the same area as diamonds, so you should be finding plenty of it, especially if you have a pick enchanted with Fortune.
If you're playing creative or with an infinite-inventory mod or some such, then it's even more worthwhile.
Because of the new feature of dying wolves and leather armour, you can use it to dye those things as well. In addition you could download mods that make it more worthwhile.
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You can make the following: Lapis Lazuli blocks, and Blue wool To make Lapis Lazuli blocks L L L L L=Lapis Lazuli To make blue wool W L L=Lapis Lazuli W=Wool
Lapis lazuli (the blue dye) cannot be crafted, but is mined from lapis lazuli ore, which can be found most commonly between 13 and 16 metres above bedrock level. Mining a lapis lazuli ore block with a stone or stronger pickaxe yields 4-8 lapis lazuli shards.
You can make blocks out of it, for building with, it can also be used as a dye.
You can craft things with Lapis like: A Lapis Lazuli block, light blue dye, cyan dye, purple dye, magenta dye and blue wool. You can check out Minecraft Wiki for some help and tips.
You can dye wool with it, or you can create decorative blocks of it using 9 pieces.