Still trying to nail down the shot for my scene, I went through some more thumbnails concepts on pen and paper to quickly identify a range of ideas. Ideally, I was aiming to achieve a more dynamic composition with more definite objects to provide an unsettling nature to the scene.

Taking these thumbnails into Photoshop, I began working with these digitally to further resolve the composition.
Carnival Concept #3Initial shapes

Colour, lighting, refinements

While a bit rough on the edges, this concept begins to capture the sort of dramatic atmosphere I am aiming to achieve, off setting a typical carnival scene in an unhomely manner. I'm still not quite satisfied with the overall composition, where some more objects is perhaps necessary to populate the scene with more interest.
Carnival Concept #4Initial composition

Tweaks, refinements

Lighting, colour adjustments

I am much more satisfied with the direction of this piece, creating a definite unsettling nature with the colours and lighting. The repeated array of lights help provide a sense of scale and depth throughout the piece, where the extreme foreground provides a more visually dynamic composition of a looming headbanner. Overall, the piece is still open to further refinments which I may come back to, though serves it purpose in providing a much more satisfiable direction for my scene to work from.
Thus, from my range of concepts so far, it seems apparent that objects such as a ferris wheel, tower slide, big round top tents and columns to bridge the lights will be in the forefront of my scene to model. Where the rest of the scene may fall into the hands of the digital painted background to complete the scene.
Any thoughts and feedback is most appreciated.