Loooonnnnngggg before video games, my friends and I did this with “stick” hobby-horses. We’d beg our folks for the “made” ones with stuffed, vinyl heads and painted sticks, but made tons of others (usually their “foals!”) out of triangular pieces of sawn boards and sticks we cut ourselves. We painted on their faces.
Beneath the ramp up to our tree house was the “stable,” we built a SERIOUS course in the field surrounding that apple tree, and spent HOURS deciding who was going to be “bred” to whom to get the Perfect Foal that we’d ride in the Olympics. 
I feel sorry for kids today who don’t have the opportunity for HOURS of unstructured play like that. When we weren’t horse breeders and USET jumper riders, we were Indians with self-made bows and arrows, fur trappers “skinning” skunk cabbages, Lewis & Clark carving trail-blazes in trees, or witches making mini-scary-jack-o’lanters from hard-as-a-rock Bartlett pears. I think I’d already lost 3 jackknives by the time I was eight. Fortunately, my grandfather kept giving me more. 
The HorseLand video episodes are a kick–they’ve got “Barn Drama” down pat!