Using the footage you collected, edit a 1 to 3 minute video essay. Using basic editing techniques in Final Cut assemble the footage in a way that helps the viewer to understand more about your experience of the subject matter. Consider how you can use audio and video independently from each other to tie the piece together and give it more depth.
As stated in the assignment for the shooting stage, you may choose to approach this as a straightforward documentary, a visual/audible poem, or a constructed fiction. The choice is yours -- but either way it will be your vision of this subject.
Just One Rule:
No music unless you made it yourself, or it was present in the shot and it doesn't make sense to mute it. I'm serious!