Hey! Great thread! I'm really looking forward to reading other practical suggestions as well!
I try (with my 3yo dd) to be a verbal example. Meaning, that as I make choices that reflect my Christianity throughout the day, I try to frequently (not always...I don't want to make it boring or unreal) to briefly say why I'm doing it. Like, "Jesus said that when we love someone, we're loving him, so let's take this casserole to so and so's house." Or, "God loves me and wants what is best for me, so even though I WANT to do x, I'm going to listen to God (insert verse) and do what HE says, because I know he loves me." And, I also tell stories about answered prayers. Maybe when she's really scared about something I'll tell a story about when I was scared and chose to trust God and I prayed and the positive outcome. I do try to stress that what I want may not be what God wants, so I need to pay attention to HIS will and not mine...which means the answer to my prayer may be unexpected or just plain not what I wanted. Oh, and often, when she asks me to tell her a story, I tell her about a Bible character. I don't wwant Bible things to be segregated to a church building, or Bible class. So, I talk about them casually, all the time, and I talk about Paul the same way I do Abe Lincoln. I also give her the Biblical cause of things around her. People get sick and die because Eve messed up and didn't do what God said. The world is a mess now, but it's okay because God still loves us and if we do what he says then we can be in the perfect Heaven with him when we die. Or, again (not to pick on Eve, here

), we have to work so hard pulling up the weeds in the garden, and hauling water (and praying for rain) because Adam and Eve messed up. God didn't make it that way. Etc. Etc.
I've also discovered that with 2 (and a third on the way), I just don't have much time for individual study or meditation. So, I instituted "Bible Time" at our house. Just after breakfast, and we're dressed and the house is generally tidied for the day, and the kids have burned off a bit of that early morning energy, I say, "Bible Time!" and they both run for the couch. I have toddler Bibles for them, and they look through their Bible while I read aloud one chapter of mine. (I usually read the chapter that we are studying on Sunday mornings, and I read it everyday for the whole week.) Reading it aloud lets me think about it without any distraction from their chatter, and reading it everyday means it's on my mind and I can meditate on it without much effort as I go about my day. Looking at their Bibles keeps them quiet, too...and I kinda use this time as an opportunity to help them learn how to "be still" for Sundays, too. Anyway, after I read the one chapter, I read another small section that we're working on memorizing. (Right now it's Psalm 100). Then, I read one story (whatever he wants) from ds's Bible, and then one (again, her choice) from dd's Bible. Then we might sing a bit, but not always.
I'd read somewhere (Ruth Beechick?) that the KJV, while having more difficult language, is actually much easier to memorize because when they translated it, they payed specific attention to meter and cadence. Therefore, the flow is easier to retain than the easier language of the NIV or ASV or whatever. She also recommends that instead of setting out to memorize a certain thing by just saying it over and over, instead, expose it over and over. Eventually, you've heard it so many times, you can recite it without effort...and it is truly "written on your heart." That's been true for dd thus far, and while it seems a little slower, the process is painless and the learning deeper. And that goes for things that aren't Biblical as well.
Other verses we quote a lot are of Christian character. ("A soft answer turneth away wrath, but grievous words stir up anger." Or, "Be swift to hear, slow to speak, slow to wrath, for the wrath of man worketh not the righteousness of God." or "Whatever your hand finds to do, do it with all your might." Etc.)
Another thing I've been pondering a lot with dd is that everywhere I go (homeschooling circles, more conservitive Christians, etc.), the emphasis for girls is very much on being a wife and mother and staying home. Which is great...I know many disagree, but I do think that's the best place for women, and God ordained. But...I'm watching a lot of floudering teenage girls (mostly homeschooled, but not all) who are just "waiting" for Mr. Godly, so they can get married and have babies. School isn't all that important for them, though they dutifully do what their parents give them, and it seems they have very few real interests or intrinsic drives. The more I watch and think about this, it really bothers me. Certainly we should teach our children (boys and girls) to embrace the roles God has ordained for them, but it seems something is missing in the overall picture. I've landed on this. I'm no longer encouraging dd to be a stay at home wife/mom. I'm holding that up as the ideal...how good it is for children and marriages, and what they Bible has to say to mothers and married women. But, I'm encouraging HER to seek God's calling as an individual. Then, she will be prepared to truly be an interesting helpmeet to her husband, SHOULD she be called to marry. Otherwise, she is still fulfilling her role as a servant of God, and "redeeming the time wisely". I heard someone say that "you shouldn't get married unless you are certain that you can be of greater service to God as a couple than you can be as an individual." Not that the girls I mentioned before aren't using their time wisely, many of them are learning to sew, cook, etc, but I wonder if there may be more for them? I realized that it was because of my deepest interests and goals that I am now prepared to be an understanding wife to my husband. If I had not had the experiences I did...I wouldn't have nearly the foundation I do know, if that makes sense.
Anyway, there's my lengthy 2 cents...