So off to Google to do a search and sure enough other people had the same idea.
Now if you really can't figure out how to actually use it as a light tent you can head over to instructables for the details.
But what I had not considered and Mikko Reinikainen did was using the IKEA hamper for a diffuser/soft box.
Below you will see his setup using a Nikon SB-24 to shoot through the hamper for soft portrait light and a sample of one of those portraits.
Click on any of the images to view larger and in a new window.