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Pranks performed on April Fool's Day range from the simple, (such as saying, "Your shoe's untied!), to the elaborate. Setting a roommate's alarm clock back an hour is a common gag. Whatever the prank, the trickster usually ends it by yelling to his victim, "April Fool!"
Practical jokes are a common practice on April Fool's Day. Sometimes, elaborate practical jokes are played on friends or relatives that last the entire day. The news media even gets involved. For instance, a British short film once shown on April Fool's Day was a fairly detailed documentary about "spaghetti farmers" and how they harvest their crop from the spaghetti trees! Also in Britain you only have until 12pm to do your prank, otherwise the joke is on you!
It's simply a fun little holiday, but a holiday on which one must remain forever vigilant, for he may be the next April Fool!