Lots of playgrounds in Ulverstone and Turners Beach. Anzac Park is good by the roundabout before the main bridge. The one near the football ground opposite the Beach Hut and Water Slide is great. There is another at the Turners Beach Football Ground. The Berry patch at Turners Beach has a play area form kids as does La Mar at Turners Beach. There are bikes to hire at the Beach Hut. The miniature railway at Mascells Road, Turners Beach operates the first and third Sundays of the month.
There is a great (new) bike park opposite the surf club in Ulverstone.
The shared pathway (walking/cycling) currently runs from West Ulverstone near the tennis courts all the way to Turners Beach and is about to be extended at both ends. This section takes 45-60 minutes and is all off road.
Our kids used to enjoy a trip to Goat Island (accessible only at lowish tide) to play pirates. It is quite a short walk to the island from the car park. Take Old Coast Road (Penguin Road) and find the car park opposite the Blue Wren Tea Rooms.
The caves and wildlife park at Gunns Plains are other options as well as many terrific safe beaches. The main beach at Ulverstone opposite the surf club is patrolled on weekends.