Do three dimensions tell us anything about a theory of everything?

It has been conjectured that four-dimensional N = 8 supergravity may provide a suitable framework for a 'theory of everything', if its composite SU(8) gauge fields become dynamical. We illustrate that supersymmetric three-dimensional coset field theories, motivated by lattice models, provide toy laboratories for aspects of this conjecture. They feature dynamical composite supermultiplets made of constituent holons and spinons. We show how these models may be extended to include N = 1 and N = 2 supersymmetry, enabling dynamical conjectures to be verified more rigorously. We highlight some special features of these three-dimensional models and mention open questions about their relevance to the dynamics of N = 8 supergravity.