I use masking tape to make an indoor hopscotch grid. I've also made little bean bags and then set up 'targets'--shoe boxes or pails at varying distances. As said before, some old magazines, some art paper, kid's scissors and a glue stick are great for creating their own pictures or collages.
I've found that baking is not always so good with my girls (6 and 3) because the younger one insists on doing everything her sister does. We have over come that problem by making two of everything-the younger one's on a smaller scale of course. If you go the kitchen fun route, make sure you have a couple of aprons handy (old shirts with a piece of tape for a belt, work. )