This assignment will let us create an interactive story, children's book, or tutorials / how-to using Flash. I created a template for the Interactive Book (below) if you would like to start with it.
Some ideas might include a children's story with pictures of your little brother/sister/nephew/niece, a story or poem you have written which you can illustrate in Flash, an educational book (i.e. anatomy, astronomy, chemistry, welding, etc.), or a tutorial / how-to involving step-by-step instructions.
Try to make this a project which is different than a simple "click for the next page" movie -- we could use PowerPoint to do that. Include something like a button with an "over" or "down" that makes the movie interactive. Maybe insert a movie clip on one of your frames that animates something. Just be creative!