A versatile piece of furniture is a DAYBED, which is a 6-letter word, and a hideaway bed, which is an 11-letter word. A DAYBED is a type of sofa that can be used as a bed, usually with a trundle bed underneath for extra sleeping space. A hideaway bed is a bed that can be folded up and stored away when not in use, making it a great space-saving option. Both pieces of furniture are great for small spaces, as they can be used for multiple purposes.