Will anything bad happen to my xbox 360 if i leave it on my carpet floor while i play?

you shouldn;t leave it on the carpet becasue it over heats, and you get red ring, and red ring is a *****. The xbox over heats when you leave it on the carpet, becasue there is no air flow on the bottom, and it over heats. Leave your xbox flat on a table or something solid.

Depends on which way you have your xbox set up.

If it's standing vertically,then that's bad thing(even if it weren't carpet,but in this case carpet makes it slightly worse,especially if you have that "fluffier" carpet).It will be blocking a major in take area of the 360.

If it's horizontally,it shouldn't be much of an issue.I currently have mine like that and it's fine.I mean if you can get it off the carpet and onto a solid surface,it would be somewhat better for it.Nonetheless,how you have it should be fine.

it will suck up dust not get enough air ,get very hot and eventually over head and red ring, lay it flat on a solid surface suspended on 4 chunks of logo bricks or something, like i do (make sure it is supported properly) so air can get to the bottom of it , you'd be surprised how much head can be collected on the bottom of it ;)

it will heat up faster, my brother once put his ps2 on the carpet and it heated up in 10 minutes, my ps3 is on a table instead or my carpet, and watch out if people would step on it