Challenge for my fellow composers.

The basis for this challenge is a simple theme and variations; however, each variation must use the varied material from the previous variation.

In other words, you start with the theme, and then you write the first variation, and then you have to vary that variation, and then vary that one, and so on and so forth. I'm currently working on my own set of variations, with the theme being a Schubert Lied. (I'm using it as an excersize in motivic development and transformation, but also as one of orchestration, as I'm very much a beginner at writing for orchestra, and have found that the best way to improve on a skill is to try it over and over again.)

What do you all think? Would anyone like to attempt this?

I'm kind of in the middle of writing something at the moment but I love writing variations.  This idea of writing 'perpetual' variations is really great.  A few questions:  will this be an exhibit of everyone's attempt at a perpetual theme and variations?  Or will there be judges, and winners etc.?  Will there be a deadline?  Can people pick their own theme on which to write their variations and does it have to be another composers theme or maybe an original one?  I would definitely be interested given enough time.

I had initially posted this just as a kind of prompt, but making it into a kind of contest could be really fun! I can work on putting that kind of thing together if enough people would be interested (and if I could find a few people to be judges lol).