The challenges I introduce here are for fun, to build our skills in all areas of game development and get everyone to try thinking outside the box. Each challenge will test different skills with restrictions you have to work within.
This goal is to create your own little platformer, starring you as the protagonist. You will have to come up with a basic excuse for you to be the main character, and you may only have abilities you have in real life. This means in terms of the movement (and attacks if you add them) etc, you must be realistic - if you can't jump twice your own height... you will need to take advantage of ladders etc). See how interesting a plot you can come up with to explain why you are the hero of the game. Everything else about the game/setting can be as imaginative as you like.
For this challenge you will need:
Story: A few sentences to introduce the scene
Sprite: Yourself as a side-on character 32x32 pixels max. You will need an idle pose, and frames for running and jumping. (You can build on more later if you wish)
Background: One scene, doesn't need to scroll, to be the starting 'room' in your game. You can use multiple layers if you wish. It must have a floor and some platforms to jump to/on.
Sound: Optional (Sound effects for footsteps, jumping, hitting a wall etc or a tune to set the scene)
Programming: You must program one room, in which your character can walk/run about, and jump on platforms.
Bonus challenge: Add a health system, and a way to get hurt (eg enemies, traps or fall damage)
Take this challenge for fun, and as an opportunity to develop your skills in making games. Focus on making a simple platform engine with the requirements above before trying to expand to have attacks, inventory, armour, stamina etc. Cut scenes etc are not required.
Some inspiration;
That is complex, but good for smooth animation, you can use as few as 2 frames to make a character run, look at mario in the older games - http://www.youtube.com/watch?v=qZtEwszTg2o&feature=related
Check out this platformer footage or revisit your favorites to get ideas and inspiration!
http://www.youtube.com/watch?v=KE1fW6iCNN8
http://www.youtube.com/watch?v=o6u-ZglG3O4&feature=related
http://www.youtube.com/watch?v=5aOoFR-eAuk
Post your WIP resources, problems, ideas and discussion here. You can post completed challenges as topics in the 'Just for Fun thread', add [Challenge #1] before the title to keep things organized. There is no time limit, and you may work in groups to create your resources and do your programming!
Have fun!
, go for it then 
Stunning! 
Damn, hell studies! 
I will ofcause check back on that thread from time to time! The idea is great.