I have re-implemented some of a language's built-in data structures, functions, and classes on a number of occasions. As an embedded developer, the main reason I would do that is for speed or efficiency. The standard libraries and types were designed to be useful in a variety of situations, but there are many instances where I can create a more specialized version that is custom-tailored to take advantage of the features and limitations of my current platform. If the language doesn't provide a way to open up and modify existing classes (like you can in Ruby, for instance), then re-implementing the class/function/structure can be the only way to go.
For example, one system I worked on used a MIPS CPU that was speedy when working with 32-bit numbers but slower when working with smaller ones. I re-wrote several data structures and functions to use 32-bit integers instead of 16-bit integers, and also specified that the fields be aligned to 32-bit boundaries. The result was a noticable speed boost in a section of code that was bottlenecking other parts of the software.
That being said, it was not a trivial process. I ended up having to modify every function that used that structure and I ended up having to re-write several standard library functions as well. In this particular instance, the benefits outweighed the work. In the general case, however, it's usually not worth the trouble. There's a big potential for hard-to-debug problems, and it's almost always more work than it looks like. Unless you have specific requirements or restrictions that the existing structures/classes don't meet, I would recommend against re-implementing them.
As Michael mentions, it is indeed useful to know how to re-implement structures even if you never do so. You may find a problem in the future that can be solved by applying the principles and techniques used in existing data structures.