The 36 Days of Type is probably my favorite design challenge and there are a few reasons for that. The most important for me is that it requires the participants to come up with not one, but up to 36 variations of their idea and probably the most difficult part, it has to do with typography. It's definitely not an easy task but the designs people share are just amazing. A good example is the 36 Days of Kinetic type by Syddharth Mate. It goes beyond just graphic and adds motion to the mix.
36 Days of Type is a project that invites Designers, Illustrators and Graphic Artists to express their particular view on letters and numbers of our alphabet. With 36 days of restless creativity, where participants are challenged to design a letter or number each day, resulting in an outcome of the ability to represent the same symbol from many different perspectives.
For more information check out http://www.36daysoftype.com/