When TJ acts out, sometimes I put him in Relaxation Time Out, where he goes into his crib and just chills for a while until he calms down. I use it when he seems like he's really needing a rest.
Today he was in there after he threw his artwork book. I gave him his blankie and left him in there for a couple of minutes. When I checked in, he was laying down all comfy and looked at me and said "Mommy, I calmed down."