Players take turns drawing a card from a deck of 120 Single and Double Water Balloons, Squirt Guns, Water Hose, Kiddie Pool and Treehouses. After drawing a card, the player may throw the Water Balloon(s) or use the Squirtguns; place a Kiddie Pool or Treehouse in front of them to protect them; use a hose to get rid of a Kiddie Pool or Treehouse; or discard the card if it cannot be played. Once a player has been "hit" by 10 Water Balloons or Squirt Guns, they are out. The last player standing is the winner. Game instructions include 2-player and Strategic Play variants.

Water Fight can be played almost anywhere and adapted to meet the needs, age, or skill of the players involved. With young players the rules can be simplified so the game is easy and engaging (kids learn to count, make sets and understand cause and effect). With older players new rules may be added for more complex game play, such as, "any person who is out may rejoin after one round."