Cut adhesive felt into shapes and create two identical game mats with the following elements; 1) three "bench" spots 2) one pile area 3) one "knock-out" area 4) one "field" spot 5) one "prize" area
Write some simple base rules. Ours definitely changed as we played...my 5yr old likes to be invested in the process :P
Set the game up and get started! It takes some patience but ends up being more fun if you let your 5yr old take over and change things up once he/she starts getting into it.
Don't forget to get into costume too if you can!