Vintage Picture Frames

On a recent thrifting adventure I came across this buried in a pile of yucky, ugly frames.

I love the cracking/chipped paint.

I believe the size is 11x13.

Here, you can see the detail on the frame.

I decided immediately that I had to have this frame.

I really didn't know why other than I didn't want to leave the store without it.

When I got home I was looking at it and thought of a few things I could do with it.

I came up with 3 options,

1. Turn it into a vanity to place on the nightstand in the spare bedroom
2. Repaint and use it for its original purpose, or
3. Turn the frame into a chalkboard 

I have yet to do any of them. Im at a loss for inspiration!

I need your help! Any comments or ideas are greatly appreciated