Water Toys
During the hot days of summer, nothing is better or more refreshing, than a toy that helps kids cool off. If you don't have a swimming pool in your back yard, consider an inexpensive set of water guns. Kids love to chase each other around, and the addition of water to the chase makes their game all the more fun. Also consider a water slide. These are usually inflatable, and can be connected to a hose or other water source. Kids can climb to the top, then slide down into a pool of refreshing water.
Toys with Wheels
If your kids are already begging you to teach them how to drive, consider getting them some wheels of their own. Scooters and bikes are usually appreciated, since they give kids a way to ride around their neighborhood. Tricycles are available for younger children who can't quite balance on two wheels yet. Slightly more expensive than bikes, miniature cars and trucks are enjoyed by many children. You may opt for a model that is battery-powered, so it moves with the tap of the gas pedal, or a model that requires foot power to drive.
Sports and Exercise
Children usually like to toss a ball around, and footballs, soccer balls and baseballs can be purchased fairly cheaply. You may want to buy an adjustable basketball hoop for your children, which can be raised as they grow taller. Kids also find joy in the act of jumping on things, so they'll be happy to play with a pogo stick, trampoline or inflatable bounce house. Although it may be a bit more expensive than other toys, an artificial "mountain" lets kids practice their climbing skills, and often contains a hiding spot in the middle.
Simple Toys
Even if you don't have much money to spend on toys, you can find many objects that will entertain your children for hours. A basic cardboard box is one such example. Children love to turn large boxes into club houses. Cut a door and windows out of a box, then help kids paint and decorate it. If you have a tree in your yard, as well as some rope and a spare tire, consider making your kids a tire swing. Tire swings are very inexpensive, as opposed to pricey deluxe swing sets, and they're just as fun.