Kid Vacation

My children are home from school today and tomorrow because of a statewide convention for teachers sponsored by the state teacher's union. They are thrilled beyond belief to have their schedule interrupted and to have a four day weekend. I am thrilled for the same reasons! Although I embrace routines and can rarely function without them, I find I am as giddy as they are to have this glorious reprieve. It makes ME feel like a kid again!
For those of you with children home, how do you fill the hours? Juggling the three kids I have here, ages 8, 4, and 1, there doesn't seem to be much downtime, but I want to do something "special" to punctuate this time off. With money being tight I cannot justify going somewhere with a fee, so I am trying to construct a combination of free play and structured activity so the two oldest children do not wind up battling each other like Transformers, Jedi/Sith, or Batman/Joker.
What were the activities you enjoyed as a child when you had a rare day off from school? What have you found works for you when your children are home? Are you crafty? Do you go for a hike? Do you cook/bake? As a child, did you stay in bed and read? Were you organizing a trip to the movies or the mall? Did you beg your mom/dad to have a board game/video game marathon? Were you treated to a mini-vacation away from home?
The time off seems long as it stretches out before me, but as with life with children, the hours fly by and the next thing I'll know it will be Sunday night and a new week will be upon us. I want to slow the pace, make some magic memories, and simply relax. I want them to fill the days with activities they enjoy and try new things to add excitement. Your input is most appreciated! Help me plan an ideal "kid vacation"!