Water Balloon Stomp: Tie a filled water balloon around child’s ankle. The object of the game is to stomp on and break others balloons but to keep your balloon intact.
Water Balloon Yo-Yo: Cut a rubber band in half. Tie a loop securely on one end of the rubber band. It should be big enough to fit around your finger. Fill balloon 1/4 full with water. Blow air into the balloon until it’s the size of a tennis ball. Tie shut. Securely tie rubber band around know on the balloon. Place rubber band around middle finger and gently throw balloon toward the ground. When it springs back try to grab it.
These ideas came from this post: Water Fun Thanks, Deemom!