I think the idea as a whole is great, but I also think it would be even more fun if multiple authors take the challenge. Each author is going to come up with something completely different, and that's the most fun part!
There has been at least one
similiar challenge in the past which resulted in at least two great stories:
Dave\'s and
CC\'s .
I think this idea is definitely worth resurrecting.
*stares at Kleenex Box for inspiration*
Lisa