We do a fun day like this in the Spring-- usually the end of May- no charge to the kids-- they go out during the morning or afternoon and move station to station and play activities--- all geared at fitness-- they stop for a healthy snack and then head back in. The kids love it-- last year we sold shirts to wear for for this day, since it's a yearly event.
I guess that's what you could call our "Field Day".
Every year in the spring the PTO hosts this event. First, we provide a picnic lunch....grilled burgers, fresh fruit, side dishes...etc.
Then for the afternoon - we rent inflatable 'rides' (a moon bounce, blow-up slide, etc). We also borrow a snow-cone machine from the local JCC. The teachers rotate their classes through each of the 'stations'.
I should add - we are a small school....110 kids in grades PK through 8th grade....but even a larger school could do parts of what we do as a treat for the students.