This is not a new idea, certainly. I've helped out the Sonoran Arts League with their "mini-masterpiece" fundraising that artists make on two-inch canvas. These are just on foam board, so they're lighter and well, easier to work with.
The first one was to just stretch those Zen-tangly muscles. The other was prompted by a) Every Inchie Monday's suggestion for "orange," even though it's two inches square, b) a collage suggestion to use single-source materials and c) some leftovers from another project. It's a bit off-the edge and intended to be tongue-in-cheek. (If you dissect the cooking instructions for those round waffles, that's what you get!)
I like the simplicity of scale. I like having new magnets for my new house! You can never have enough fridge magnets!