Asha,
You can have table tennis, chess, carrom, 4 corners, pool, Bingo :) I am sure four corners would be enjoyed by many... whoever's hosting the show can first start by saying that we need everyone together for a picture. Once the picture is taken, the host can separate everyone into four groups based on their birth months; for example, people born in Jan, Feb, Mar in one group, people born in Apr, May, Jun in the second group, and so on. Then, the host can proceed by asking one person from each group to say a word starting with 'C' (like Christmas or any other word they prefer) without pausing, one person from each of the four groups. After that, you can start the music and play four corners.
Hope you have fun... Wishing you in advance a Merry X'mas and a Happy New Year 2008 :)