All you need is some decorative tape and a steady hand. To see more, check out Bambula. (Link is in Finnish.)
Similarly, Kate Pruitt over at Design*Sponge embellished an extension cord into a conversation-starter sculptural centerpiece rather than trying to hide it.
And when there is no choice but to run cables along or onto a wall, with a little planning and creativity, an eyesore can be turned into something beautiful.