Kids love hypothetical questions. They love being treated like they imagine adults are treated. Here are some the 5-8 year old set likes
  1. "Would you rather have a penguin or a talking dog?"
    It's surprisingly split
  2. "Okay, what if the dog had a silly voice?"
    Do a silly voice for the dog; if they're young to broad, if they're older, split it with faux-intellectual reserve, which kids -love- to see subverted. There, you've got them. You're the cool adult now.
  3. "Would you rather be the president or have ice cream?"
    The question always elicits good answers
  4. "Would you rather be able to run super fast or fly kinda slow?"
    A real head scratcher
  5. "Would you rather I have a million dollars or you get ice cream?"
    "Ice cream!" (You give silly mock outrage)