You never went dragon-hunting? Basically, you and a team of however many you can get together go looking for the World Dragons til you've managed to kill them all. It takes a LONG time but if you devote a Saturday to it, it's a pretty good way to spend the weekend.
And a player fair (that's what I call them anyways) is when you get a whole bunch of players together for a player-made festival.
You can have tonk battles, crashin' racers races, costume contests, picnics (people with bountiful feasts or whatever they're called set them out, and people with brewmaidens set them out, so much fun!), and you can have somebody set out a pet skunk and somebody else set out a pet Bombay for some entertainment. Not to mention all kinds of other contests -- we've had scavenger hunts, trivia, dice games....
And of course, you can also set it up as a sort of "player market" where people see what they can trade.
And you can always do a parade. Our record for longest parade went from Westfall through Stormwind to Darnassus, around Darnassus and then back south to Ratchet (we took a short break to obliterate Crossroads

), and random people joined in when they saw us passing by. We cheered, we waved, we made up songs. Good times!
See, how can you say you ran out of things to do? The possibilities are simply endless!