Recycling, although not 100% effective, is very important. DoSomething.org has partnered with Nestle (which is weird, because Nestle is known as one of the most socially and environmentally irresponsible companies on the planet) to encourage recycling. Please go to http://www.dosomething.org/trashy/gallery for the rest of these funny pictures and statistics:
People often think that buying some bottled water and then throwing it away afterwards doesn't really hurt the planet. But it does. Here is a rather ironic article, "'How Bad For The Environment Can Throwing Away One Plastic Bottle Be?' 30 Million People Wonder", that sums up my point nicely: http://www.theonion.com/articles/how-bad-for-the-environment-can-throwing-away-one,2892/.
I understand how you might already have a bunch of water bottles stored away in your cupboard or ready to be recycled. There's nothing you can do about all those water bottles you consumed in the past, but you can become part of the movement by not buying any more and by reusing those which you already have!
I took this picture of a water bottle bird feeder while out walking with my aunt and cousin:
You can also use old water bottles to store change, nuts/bolts/nails, collections, and as pencil holders and cookie jars (once you cut the top off). Don't store anything wet or moist in water bottles, though; that could make you sick. For the birdfeeder above, I recommend only using it in dry weather, and if it rains, you should change it.
On the whole, bottled water should be avoided! If you haven't watched "The Story of Bottled Water" yet, please scroll back up and watch it or go to http://www.storyofstuff.org/movies-all/story-of-bottled-water/ to see it at it's original website. If you are really interested in this sort of thing, you should go on a movie marathon and watch all of "The Story of..." videos. I've only seen three, but that was three really good videos I spent my time watching!