You could just get the Oxford Full Dictionary (22 vols downloadable from Demonoid, arrh Jim me lad, about 2gig) and attempt to make it standard. I am trying to by giving copies to all the class monitors. However, they aren't exactly leaping forth out of the woodwork for copies. Dunno why.
The IPA has been taught for decades in many countries but only if you formally learn a foreign language, that is foreign for the country you are in. Those of use who can only speak one, didn't learn it. I too learned some kind of phonetic system that only works for the HK style Cantonese transliterations. Limited usefulness.
Yeah, dictionary use is interesting. However, I would rather try something different than just the old I saw her, I used a saw to cut wood.
I would rather use something where the SAME word is used in different ways, so they can have a look at the depth of the words. That is, for more advanced learners. Like vivid mentioned before. Kid is another that is used a lot.
One that turned up yesterday for me in a newspaper reading class (who comes up with these crazy subjects? I just use it to teach idioms and rewording things for explanations) was 'Funky'. Now, what do you think they thought it meant? Fashionable. Um... no.
Wow that music is funky. this smells pretty funky. it sure feels funky. funky new toys. What would be the adjective for 'he was in a deep funk'? Funky!
Something like that.