I read about this last year in a magazine article on saving money around the house and figured it was worth a try. When I purchase a new box of Bounce sheets, I get out the scissors and cut them in half. It doesn't take long (It's a good movie-watching project), and I love that our supply lasts twice as long. We haven't had any static cling issues since starting this, so I guess it's working for me!
My mom's alternative solution is to use sheets more than once (two at a time the second go-round); she stores them in a wide-mouth vase in a cabinet above the dryer.
For other uses for fabric softener sheets, click here and scroll to the 5th frame.
Check out Rocks in My Dryer for lots of great ideas!