It used to be the children's game, not just for parties, mentioned in kids' stories through the decades (since Victorian times at least). Did you play it, or was it considered too dangerous or too frivolous? Also, would you encourage your DCs to play it?
I only remember playing it once: during a dull moment on a school trip; we needed to keep warm while waiting for somebody to pick us up, and most of us were wearing scarves, so we seized the moment. We were 18 years old!