I've chosen to create a Pirate-themed "Captain's Cabin" throne and environment. I'll be using Maya, Photoshop and UDK.
So far I've only just started to create the architecture of the room itself, here's a quick WIP picture!
The contest is open til March 31st so hopefully I'll have plenty of time to get it done as well as completing my Uni work :)
Check back for updates!