Macgyver

macgyver, to macgyver, macgyvering n., v. 1. a player or character who uses items (either on person or at hand) or powers, spells, or other character abilities in ways not generally intended to attain a goal or solve a puzzle. 2.(v.) the act thereof.
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Addendum #1: Named after Richard Dean Anderson's title character in in late '80s-early '90s TV show MacGyver. MacGyver was a genius who would take ordinary items and, thorugh his knowledge of physical sciences and ever-trusty Swiss Army knife, use them in amazing (and sometimes seemingly physically impossible) ways to work his way out of trouble. Examples included the simple act of spraying household detergent in an enemy's eyes up to combining a muffler, seat stuffing, gasoline, and a steering wheel knob into a cannon.
Addendum #2: The art of macgyvering in gaming is simply to use a little lateral thinking when looking at the items at hand or a character's abilities to solve a problem when an obvious solution isn't there. However, since a large number of macgyvering plans rely on (often faulty) personal knowledge and/or one specific series of events, these plans can be either shot down by the GM or backfire in spectacular ways. (See "It would have worked if it would have worked!", and sounding hammer). Your mileage may vary.