Back in my beginning days of homeschool, we did memorization. I don't know what happened, but it's time to pick it back up! What we use to do and will start again is Memorizing Poetry. I just pick a poem that sounds good, that stands out to me, something I know our family will treasure. I will print it out, and put it in a clear sheet protector with magnets attached to it. Then each day before we eat lunch, we repeat our poem. I typically try to do one a month. I will also have the children who are able to copy it, as copywork, and put in their copywork notebook. They also illustrate or decorate the page. Then the older children will do one of the following; a word study on a word in the poem (I will probably give them a few options, or have them choose one and make sure I think it's a good word), or have them narrate it as a story, or graphic summary, or maybe do an activity related to it. I might even give them the option of all those, as inspirements and let them go with it!
I also like the idea of writing the poem on a whiteboard and erasing words slowly, maybe a few a day. I might add that to our morning routine.