Finally got a few ideas for this.

Idea #1:: ATTACK OF THE SPIDER
I've always been afraid of spiders. So am thinking i will create a scene of a person being attacked by a spider. I know when I see one I jump on the nearest thing. I've had many dreams about these horrible little things. So its time I face my fear and create something with one.

Idea #2:: EATEN BY A SHARK
This would have to be my second biggest fear. Those things really scare me. Not sure that this would really lend itself towards a good nightmare scene though.

In fact, I think I'll start doing some sketches of the first idea. I like it from the fact it gives room for all sorts of representations.