One great example of a fun experiment you can do with your kids is to make a water clock. This site gives directions to make the clock and a bit of history as well. From the site: "Water clocks, like sundials, were used by the ancient Egyptians, Greeks, Romans and Chinese."
You will need 5 equal size cups, some thumbtacks, tape, a pencil, a clear glass jar, a kitchen timer, hard cardboard and a strip of paper.
You basically poke a hole in the cups, attach them to the cardboard vertically, pour water in the cups and mark how much water was in the jar beneath the cups in 5 minutes.
You can find it here: National Geographic Kids Magazine: Water Clock Experiment
Enjoy,
Donna