Hmmm... tricky. My theory is that (if this were something Disney were doing), they'd create the attraction, and then later generate a movie out of it.
Looking at classic literature, I'd start with "Gulliver's Travels." At least the Lilliput and Brobdingnag parts of the novel. It would be cool to see state of the art animatronic characters that are Lilliputian size. We know Disney always dumps you into a store after the ride, so there are all kinds of things that could be sold in the Lilliputian area.
It might also be cool to see "A Midsummer Night's Dream." I know you couldn't really tell the full story, but they could probably make it look pretty nice. I think it would also be fascinating to see a Disney cartoon take on any of Shakespeare's works.