Spool Table. I like this idea with the bottoms cut. Looks much better than just leaving the bottom circle whole. You could then paint the whole thing - add flowers, paint "Coca - Cola" on it, or whatever. Then use poly so it stays weather-proof.
The upcycling an industrial spool - You have several choices: Wash and dry thoroughly and then just smooth sand it and add it as a coffee table. Or put a stain and shine on it. Or paint it a bright color for a patio side table or for the children's play area.