Simple patterns punched into tin cans make beautiful decorative candleholders. You can use a cheese grater as a punched-tin candleholder, as mentioned above, simply by placing it over a candle sitting on a flat surface, such as a plate or tile. Punched holders can be purchased — they are extremely popular in Mexico, and shops specializing in Mexican imports are likely to sell them. I have a spectacular example of this art in the shape of a large fish.
You can also make your own punched-tin candleholders from tin cans. If you wish, you can just punch holes at random — this is the easiest way to make a punched-tin holder. Or, you can create a pattern to follow by using a template or stencil.
To make a punched-tin candleholder, fill the washed and dried can with wax first. Using a steel punch or an ice pick and a hammer, punch holes in the can. The wax inside will prevent the can from denting. If you are using a pattern, wrap the stencil around the can and tape it securely so it does not slip as you punch. This takes quite a bit of skill and I personally think a random pattern is equally effective and attractive. The result will be the same: little pinpoints of light coming through the tin can placed over the lighted candle provide an air of mystery and romance.
Be careful when using your tin holder: When a candle is burning inside it, it will become very hot.
Dull sharp edges with a file before filling the can with wax. After punching, open the end of the can and push the wax through with the lid. Dip the can in boiling water to remove leftover wax (don't pour the water down the drain) and wipe it dry inside.