This was my first Picaxe project. Actually, my first complete circuit to design and build. The hardest part of the project is the soldering, but if I can do it you can do it.
Basically, it is a little box with a push button and two light sensors (3 inputs). It has an LED and piezo (2 outputs). I have it programmed to respond to light levels with corresponding beeps and blinks. It can be reprogrammed to respond differently. I "play" it by shading the two photo-resistors with my hand. It is quite addictive.
If you like circuits and programming, and if you are just getting started in either, this is a good project for you.