Come up with a game that combines ideas from the past with new ideas from this day-and-age. You could have anything from a hyper-realistic 2D platformer to a Space Invaders-esque game with a weapon wheel and updated music.
Adding to this - I just read that a bunch of cartoons from the 1920-1960s are entering the public domain: https://lifehacker.com/these-1923-copyrighted-works-enter-the-public-domain-in-1...
Fits well with the old & new theme.