We used to do this as a school project at past schools, so I spoke with my librarian this year and she was totally on board with trying it out. I am not sure how much it will catch on though since it turns out that third grade does this as a book report every year (oops).
This year we decided to do Bunnicula.
"Ah, ah, ah" (in a spooky dracula voice)
The kids were so proud of it and love the fact that the whole school gets to see their hard work.