WFMU is an independent freeform radio station in NYC. Their Beware of the Blog is having a contest called the "60 Second Remix Contest." Cut your favorite song down (or in some cases extend) to 60 seconds. The winner gets a WFMU messenger bag full of music and WFMU swag. Hurry, deadline is this Friday, February 23rd. E-mail your mp3 submissions to at ken at wfmu dot org.
Even if you don't enter, the other entries are (for the most part) worth a ramble.
Here's a sample:
Ramones "Blitzkrieg Bop"
Devendra Banhart "Chinese Children"
And my favorite "Take One"