Updated Feb, 25th 2013
For my scene, I imported an animated character and a cottage asset from the asset store.
I created a little island by flattening a sphere and adding a sand texture to it. I made the object collidable using mesh collider. (same with the cottage)
Bum Bum's Island:
I imported the water package and terrain package.
I set up a plane under the water for collision so the player could walk in a little bit.
I also made a ring of circles in a group that acts as an edge of the level collision. I was first trying to make one giant circle and have the player collide with it, but because the player starts inside of it.. it wasn't working. Even with a negative scale. I would probably have to create a reversed normals model in maya and import it in.. something I will play with next time.
The scene has a single directional light in it.
You can play the little demo here: http://dmbudd.com/skillshare/week1/bbi.html