Arthur Smith: Guitar Boogie
This is a great 12 bar blues based tune to nail your alternate picking. Each note is played twice, so if you're a beginner, play every other note (at first) with a down pick. When you can do this add every second note with an up pick. Play slowly and with even timing at first, gradually speed up when you can play it without mistakes.
Check out Tommy Emanuel on YouTube. He does a fantastic version! Don't feel depressed by his version (just marvel at it), I can't play like that either!