How about Creating your favorite cartoon character from some of the animated films that got out so far. for example, wall-e ( the robot) , Gry from despicable me, Mr Fredriksont from UP ect..

Yea modeling one could be cool :) eater character modeling or some hard surface stuff to tighten our skills up :D

Hey how about recreating scene from ur favorite game let say u take some scene from counter strike and remodel and texture it for production film usage to look as close as possible to the original...