Recently, I came across this website called 5 Second Films. The site, as well as the videos, are created by two USC film school graduates (shout out to my fellow Trojans!). Not counting the titles, each film is exactly five seconds each.
I believe this would be a great exercise for any filmmaker. So much has to be conveyed in such a short amount of time, that it forces the filmmakers to get to the point. The 5 Second Films (or 5SF) usually consist of some type of joke concept easily conveyed in the time given. Some of the films seem pretty out there, but overall, not a bad idea.
You should make your own five or ten-second film. Come up with a concept and plan accordingly. As long as you have some type of camera, willing friends--I mean--"actors," some type of editing system, and interesting props, sky's the limit!
Kudos to the filmmakers for their editing skills. I had to post one of my favorite here!