Given that I think this is homework, I'll not answer, but give important hints:
If you look for the definitions on hoogle (http://www.haskell.org/hoogle/)
you find
data Bool = True | False
data Either a b = Left a | Right b
This means that Bool can only be True or False, but that Either a b can be Left a or Right b.
which means your functions should look like
pairWithBoolToEither :: (Bool,a) -> Either a a
pairWithBoolToEither (True,a) = ....
pairWithBoolToEither (False,a) = ....
and
eitherToPairWithBool :: Either a a -> (Bool,a)
eitherToPairWithBool (Left a) = ....
eitherToPairWithBool (Right a) = ....
Comparing with Maybe
Maybe a is given by
data Maybe a = Just a | Nothing
so something of type Maybe Int could be Just 7 or Nothing.
Similarly, something of type Either Int Char could be Left 5 or Right 'c'.
Something of type Either Int Int could be Left 7 or Right 4.
So something with type Either Int Char is either an Int or a Char, but something of type Either Int Int is either an Int or an Int. You don't get to choose anything other than Int, but you'll know whether it was a Left or a Right.
Why you've been asked this/thinking behind it
If you have something of type Either a a, then the data (eg 5 in Left 5) is always of type a, and you've just tagged it with Left or Right. If you have something of type (Bool,a) the a-data (eg 5 in (True,5)) is always the same type, and you've paired it with False or True.
The maths word for two things which perhaps look different but actually have the same content is "isomorphic". Your instructor has asked you to write a pair of functions which show this isomorphism. Your answer will go down better if pairWithBoolToEither . eitherToPairWithBool and eitherToPairWithBool . pairWithBoolToEither do what id does, i.e. don't change anything. In fact, I've just spotted the comments in your question, where it says they should be inverses. In your write-up, you should show this by doing tests in ghci like
ghci> eitherToPairWithBool . pairWithBoolToEither $ (True,'h')
(True,'h')
and the other way round.
(In case you haven't seen it, $ is defined by f $ x = f x but $ has really low precedence (infixr 0 $), so f . g $ x is (f . g) $ x which is just (f . g) x and . is function composition, so (f.g) x = f (g x). That was a lot of explanation to save one pair of brackets!)
Functions that take or return functions
This can be a bit mind blowing at first when you're not used to it.
functionFromBoolToPair :: (Bool -> a) -> (a,a)
The only thing you can pattern match a function with is just a variable like f, so we'll need to do something like
functionFromBoolToPair f = ...
but what can we do with that f? Well, the easiest thing to do with a function you're given is to apply it to a value. What value(s) can we use f on? Well f :: (Bool -> a) so it takes a Bool and gives you an a, so we can either do f True or f False, and they'll give us two (probably different) values of type a. Now that's handy, because we needed to a values, didn't we?
Next have a look at
pairToFunctionFromBool :: (a,a) -> (Bool -> a)
The pattern match we can do for the type (a,a) is something like (x,y) so we'll need
pairToFunctionFromBool (x,y) = ....
but how can we return a function (Bool -> a) on the right hand side?
There are two ways I think you'll find easiest. One is to notice that since -> is right associative anyway, the type (a,a) -> (Bool -> a) is the same as (a,a) -> Bool -> a so we can actually move the arguments for the function we want to return to before the = sign, like this:
pairToFunctionFromBool (x,y) True = ....
pairToFunctionFromBool (x,y) False = ....
Another way, which feels perhaps a little easier, would to make a let or where clause to define a function called something like f, where f :: Bool -> a< a bit like:
pairToFunctionFromBool (x,y) = f where
f True = ....
f False = ....
Have fun. Mess around.