No, your transistor solution won't work. Think about it - when the transistor turns on, it's basically connecting 3.3 V to GND. At that point, the transistor will overheat and burn out very quickly. Also, the output is connected directly to ground, so it can't work, can it?
If you wanted to use the transistor, you would need to place a resistor (e.g. 1k) between GND and the node connecting the transistor's collector and the output pin. You would also need to connect another resistor (e.g. 1k again) inline with the base connection to limit the emitter-base current when the input is low.
Personally, though, I'd either go for the resistive divider (if speed is not important) or 3.3 V 74-logic device with 5 V-tolerant inputs to do the conversion (if speed is important).