I found these instructions online that detail how to turn a cheap bic ballpoint pen into a little pocket rocket, complete with parachute.  It should fly 100-150 feet into the air (depending on wind, etc.)
I’d say that this looks fairly easy, just remember that in involves some work with a sharp knife, and this is a real rocket with a point on the end.

http://www.users.qwest.net/~jhove1/bicarcas.html