my 365 projects at Flickr, even if I don't upload That Day (I've been as much as 4 days behind, catching up all at once).
This is a quilt I'm working on, that I'll be working on a long time. Saw one done as a high school graduation gift, a handprint from each of your child's teachers over the years. Mrs. P was the assistant teacher for both of Tess's preschool years, and by the time I saw the quilt that inspired me, her first preschool teacher was gone, so I decided to use Mrs. P's handprint to represent both years of preschool.
Not sure how it works for middle and high school; I guess your child picks her favorite teacher for the year and you hunt them down at parent-teacher conference. We'll see.