I would suggest that for the best grade you stay closer to the assignment rather than taking it too much in the direction of your interests. We all love Jim Henson, but it's kind of reaching to feature a 20th century performer in an assignment on the 16th century. Unless of course you make a relevant connection.
For your puppets you might want to do "Punch and Judy"-styled glove puppets which could easiy be made of felt, with simple papier mache heads, which would be in keeping with the Shakespearian time period.
The thing that puzzles me most is a "southern-fried" version of the balcony scene from R&J. By this do you mean some sort of comedic treatment? I hope not, since the balcony scene is in NO way comedic. Reinterpreting Shakespeare without regard for the material would show that you really have no interest in the assignment but are just looking for an opportunity to "do your own thing". If you're really wanting to so something funny find a better scene to do. Something perhaps with Mercutio or the Nurse. There's some humor in a couple of their scenes. but remember that R&J is fundamentally a tragedy. The balcony scene is a proclamation of love, as far as the characters are capable of understanding love. Making it comedic would be burlesquing it at best and would only serve to show that you don't really understand the material at all. Resetting the scene is not a bad idea, but betraying the characters' intentions is.
You really can use your love of puppetry to fulfill the needs and requirements of your assignment. But it's better to consider the requirements of the assignment and look to how you can accomplish them with puppetry rather than simply doing puppetry with a patina of Shakespeare thrown on top of it.
Best of luck!
n_n; I was kind of wanting to go the 'Punch and Judy' route, but, my due date has been upped to wednesday instead of friday. So, not really much time to re-do one of my puppets then set papier mache.
And the southern fried statement is merely taking the script and adding our dialect to it. We are in no way trying to slaughter his work, and its still staying along the lines of them proclaiming their love for each other. It just has a southern dialect to it. n_n;;
We're really trying not to slander the scene, but, we really couldn't figure out what else to do. (We, being my partner and I) I even checked over it with my teacher, and she pretty much told me the same thing you did and to keep it along the lines of what was actually written.
She actually thought it was a cute idea to do. But I digress.
Again, we realize its a tragedy. And if we were to do a southern fried version of the whole thing, it would still remain a tragedy and with the virtues the original story would hold mainly because I respect and love Shakespeare. My partner may not, but, I do. I'm huge for the theatre, thus, well. I'm repeating myself - I respect him and I'd keep it a tragedy.
All in all, I guess what I'm trying to say is, that, we are getting slight comedic reactions, but, its not in the 'haha thats trashy can't believe they did that' way, but in my view, it's...hn..how do I put it..its a way of trying to get Shakespeare through the heads of dull southerners. /: