So if it were me, I'd spend the $1000 on a Mac of some sort (if you don't already have one), take the Stanford iOS Programming class on iTunes, and maybe pick up a book or two on iOS programming / app business. Worst-case, at the end of the 3 months you'll have a skill that's getting to be in more demand every month and an app or two in the store as proof.
I have turned $600 into $21,000 in the last 2 months. With the European debt crisis looming it is perfect time to play options as well. You can get 1000% percent return in a day.
there is not much risk if you spend time understanding how it works. Also From my learning, you don't need 50 stocks to make money. Just focus on Google and apple options. They are most volatile and predictable.
The Mantra is "Discipline"
I think I'd keep hold of as much of the $1k as I could and try to bootstrap a couple of projects to make a small but regular income.
It's so much more satisfying and stress free when profit is made on sale #1 (even if it's just a small amount)
It would certainly still be 3 months of hard work & continuous learning.
I'd like to build something that teaches me better how APIs work. Perhaps with Twitter Bootstrap.
Aside from business, in life in general I would clear so much junk out, it feels so therapeutic!
I'd spend un-rushed, quality time with friends & family.
I'd probably spend some of that thou on a small break away and try to not stick to an itinerary.
i've done it a few times and it's been great.
I'd use the $1k for books and/or new gear.