A simple twist to the content can make book reports more interesting, such as having students interview a character or write a character's diary entry. Students could also write a new ending for the book, a "lost scene" or a sequel idea. They could tell the story from a different character's perspective. They could even propose a new character and tell what that character's role might be.
Using varied formats can also add interest. Have students create a news article or a comic strip of a key story event. Let them act out an event or use puppets to present it. They might write a script (even casting real actors for fun) or respond to the book with a "thumbs up" review. This type of book review could be a partner project with students playing a pair of disagreeing critics.
Kinesthetic activities and art projects will engage many students. Students can use cereal boxes to make a 3-D "book" with a new cover illustration and a story summary on the back. A poster or mural can depict important events in the story. You could assign a collage, mobile or diorama to be accompanied by a short piece of writing. The class could design a display about the book for the classroom or library. Music can also liven things up. Students might perform a story song live or record it and play it for their presentation.
A sure-fire way to engage students is to let them compete. They could create tests for each other (within your guidelines), complete with answer keys. As a contest, this works best when the whole class is reading one book. Students are evaluated on their questions as well as their answers. A make-your-own-game activity lets students create a board game with plot events. They can decide how many spaces forward or backward a player moves for each one.
Students love technology. Let them do their book report in a slideshow program and post it on a class or school website. Look for Internet sites where students can share their work with a wider audience. Explore wikis, podcasting and virtual bookshelves. Besides using the computer, students might tape a commercial, a "live" news report of story events, or a movie version of a key scene.
Students may enjoy a "scavenger hunt" of finding items to put in a box or other container for the story. Each item must relate to the book, and the container can be decorated accordingly as well. Students tell why they selected those items to represent the book. Another idea is to have students set up "museum displays" around the classroom with themselves as guides. They can present in shifts or they can all present to other classes or to parents.