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She is a headcase. Inform her of this fact and then ignore her completely. But if you want to have some cruel - but deserved - fun, try this: ignore her completely for a couple of weeks or so. Later on, when she tries to talk to you, casually and politely state that you are busy. Do this for a couple more weeks. Then, when her interest has peaked for you again, give her the time of day, but only to manipulate her. What you do from this point is up to you. Be creative!

Or just take her back right now and be the laughing stock of my day.