Introduction

Red Light, Green Light is a great game because children of different ages can play. This is also one of those traditional games that many adults will remember playing as children.
Ages
Red Light, Green Light is appropriate for all ages.
Equipment needed No equipment is needed.
Where to play
Any good-sized open area will do.
How to play
One person is designated as “it” and plays the part of the stop light. The other kids line up about 20 feet away from “it.” Facing away from the other kids, “it’ calls out “Green light!” The other kids move toward “it.” “It” then calls out “Red light!” and turns around quickly. Any of the kids who are caught moving must go back to the start line. Play continues until someone reaches and tags “it.” That person then becomes “it.” The trick to winning this game is to move smoothly so that you can freeze instantly until you are within reach of “it.”
Variations
When playing with children of different ages, you may want to designate two start lines, the closer one being for the smaller kids. In one variation of this game, “it” may call out “yellow light,” when means that the players can continue to move but must move slowly.
(Source: grandparents.about.com)