I have a refrigerator that was given to me, its old and starting to rust on the outside what do I do, I know throw away

Those are for making Kegerators:
http://www.micromatic.com/draft-keg-beer/kegerator-conversion-kits-portfolio-cid-4.html

My uncle made a keg out of an old halloween coffin... Depending on how much it is rusting you could maybe paint it with metal paint.. but usually I replace fridges that rust because you never know the freon could be leaking out..
(I used to do maitenance in an apartment building complex)