Olive oil is great. Not only is it heart-healthy in foods, it works well as a light moisturizer for skin and a general lubricant for things like wood. Because it's one of those things I always try to keep around the house, I was glad to see this article by Curbly poster Chrisjob: a list of 25 Alternative Uses for Olive Oil.
One of my favorite tips is #11, Exfoliate your face and hands. Rub your skin with olive oil, then scrub with sugar or coarse salt, and rinse. I've been doing this for years. It always works, and is a good alternative moisturizer for people who don't want to have chapped skin on their hands, but dislike the feel of hand lotion. One caveat: if you're prone to dry skin or hangnails, skip the salt to avoid stinging. Plain granulated sugar works just fine. You can rinse if you'd like to leave a layer of oil on your skin, or wash if you'd prefer your hands to be a little less slick. I usually wash, then dab some oil around my cuticles, as in tip #3.
While a few of these suggestions would work with almost any oil, most are best kept to olive oil; however, since taste isn't an issue, any inexpensive olive oil will work just fine. And in the case of a handful of these ideas, while you can use olive oil, there are other solutions that are probably better. I'd use a plain graphite pencil or a colorless wax candle to unstick a zipper before I'd put oil on it.