Possibly ideas for what the pillow can do: 
- Crash pad
- Flotation device
- Impromptu pillow fights
- Bean bag
- Car crash?
- Falling off the bed
- Getting hit by lightning/meteor
- Guns
- Chased by dogs
- Assignment/important documents getting blown away
- Earthquakes or natural disasters
- Eatable? Oxygen?
- Forgetting an assignment. Beep bop, robot thing. Flies back to grab it for you?
- IT FLYS YOU TO UNI
- Changes into anything you want, obviously.

Possible issues that could arise: 
- Actors, still need to find them.
- Could require a lot of special effects/editing?
- Need a GOOD actor, we have no money to hire someone from Shortland Street