Heh, I think you might get damaged even a little if you slip on the peel.
I guess it could be use as a lure weapon. Place it in front of you, the opponent jumps over it, then you do an Up-Smash attack. Well, it looked like Kirby slipped back when he stepped on it, so maybe placing it on ledges may make it the new Yoshi-Egg-Ledge-Death.