NOTE
I haven't updated or used this activity in awhile. If you are going to use it you should take a good look first for dated cultural references and stuff that doesn't suit the new teacher strategies. If nothing else I hope these older materials will give you some ideas for your own materials.
This is a group based activity. I draw the race track on the board usually with 12 lines. I do a demonstration on the board to show the different types of questions. Once completing one my character will move to the next square and either start the next question or get the next question from the teachers. The students can move their own characters. Both teachers check answers and help support groups. The board will have milestones every 4 to 6 spaces. At the end of the class whichever group moved the furthest is the winner.
I often do it with the students looking at two line dialogues and either unscrambling them, finding mistakes or filling in the blanks. Then two members of the group will come to the teacher and read their corrected or completed version of the dialogue. If it is okay their character will move one space on the board.
I play it in rounds of 4 questions or so and whenever a group reaches a milestone I let them have stickers before continuing with the questions.
I have provided example characters but any popular characters are good. I've seen this done with horses, cars and Mario Kart characters.
I like using this as a way to do more challenging questions and problems since the groups can work at their own pace. By offering rewards at the milestones even slower groups can feel encouraged. Seeing where the characters are at on the board also lets the teachers know how the class is doing and which groups need more help.