I burn them.....
or put them in the yard to blow into the neighbors yard
Not sure what you mean by using them for your carvings. I have LOTS more waste than any need to have chips in a carving. I HAVE used some chips as props on a couple of Santa carvings - making them appear as waste from what he was carving.
I'll list some "Brainstorm" ideas - just for fun:
Make stuffed toys - You could use the chips as stuffing of some sort, but they will eventually break down (and rather quickly at that).
Paint them white and use them as fake snow for Christmas decorating.
Use them as packaging cushioning - like styrofoam "peanuts"
Figure out a way to glue them together and make sculptures - a cross between paper mache and popcicle sticks.