There are lots of things to do with it. Some good, some smart, some fun, some stupid, some bad, and even some that are all of those at the same time.
There is always investing it in stocks, bonds, or other type of financial entity.
You can use it to put money down on a house.
You can use it to buy furniture to furnish an apartment.
You can blow it all on a kick-arse computer system and video games.
You can "donate" to several female's "college funds" in exchange for 2 for 1 dances in the Champagne room.
As you can see there are these and lots of other things to do with money. If you can't think of anything to do with it, I am sure that there are several on here that have worthy endevours for your money.
I always recommmend that you take a percentage of any bonus(usually 10-20%) and have some fun with it, and use the rest to either invest, pay off debt, or save.