make something you'll either
A) be able to use yourself
B) think is useful to others
C) is worth your time, money and energy
D) is within your skillset/ is a challenge, depending on what you're going after.
and last but not least, do something you're going to enjoy/love.
sorry for being vague!
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I would reccommend building a "Ruben's Tube" its wicked cool and totally worth the time. I don't know if there is an instructable on this item but if there isnt there should be.
You're friends will love it too.
If you're bored and feel like making something without really knowing WHAT to make... it's best to try making food.
Food is ephemeral. That is to say, it will be gone quickly (which is great if you end up dissatisfied with it). Food can be pretty cheap too.
Click "Food" and see what comes up.