One fun idea for a stake or ward activity is to have an old fashion field day. This activity will take a lot planning and logistics, but it will be worth it. You can have the day be as simple or as complicated as you like. Additionally this could easily be a youth only activity.
First you need to plan the events that you want to include in your field day activity. You can have a stake softball tournament that takes place while the other activities are taking place as well. You can have the traditional races and events that would happen at a track and field event or you can have the silly events that you would have at a school field day. A combination of both would be nice.
Second you should delegate the events and groups to specific people. For example you may have certain wards man specific events or booths for the people to participate in. This would make the process easier on the planning committee. You can make assignments, and then just follow up with a phone call, to make sure everything is going well.
Third you should find somewhere to hold the event. You may want to schedule a big park to hold the event at. If you live in an area where the church has a ball field, you may consider doing it there as well. Remember to plan the day according to the heat and weather for your area. Generally it is cooler in the morning, so you may want to plan a morning activity as opposed to an afternoon one.
The activity should focus on including as many people as possible, and should be a positive experience for everyone who comes out. Remember to plan activities for all age groups and sill abilities. Put the focus on fun and participation, rather than winning, and you will have a great event.
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