Though using real pies might prove a bit messy, using colorfully decorated paper or cardboard pies provides a visual stimulus that many students need to imagine what exactly fractions are. Cut out several large circular pies, each a different color, and then further cut each pie into eighths. Imagine different scenarios in which students order slices of pie at a restaurant, and must figure out the fraction of the slices that remain.
Separate students into groups of five students each. Then announce a particular fraction with a denominator of five (i.e., 3/5) and ask students to quickly remove some members of their group to form the appropriate fraction. Groups that complete the task the quickest receive points, with the group having the most points deemed the winner.
Bring in spare change to illustrate to students the nature of decimals, using a one dollar bill to represent the number 100. Ask students to identify and write down the correct decimal presentation for pennies, nickels, dimes and quarters (.01, .05, .10 and .25). A more advanced version of the game might ask students to also identify the correct decimal presentation of one nickel within a quarter, or one penny within a dime. For each correct answer, assign a small monetary value; students who reach one dollar first win.
In addition to understanding the concepts of fractions and decimals, students should learn the relationship between the two. Purchase several candy bars that can be split into equal sections. Choose a decimal and ask students to remove portions of the candy bar to form a fraction that corresponds to the chosen decimal. For example, if the chosen decimal is .6, and the candy bar is split into five equal parts, students should remove three parts to indicate 3/5, or .6. Successful students can then eat their work!