At least 3 people, but more people make for more fun
A standard deck of cards (no jokers)
The card rankings, in descending order: K Q J 10 9 8 7 6 5 4 3 2 A. Suit is irrelevant.
Each player begins with an equal number of "counters" in front of him, from 2 to 4, that stand for his "lives" (use pencils, chopstick, and more for counters). The dealer distributes cards at random, one card to each player, face down. Starting to the left of the dealer, each player looks at his card trying to decide whether he likes the card enough to keep it — if it's satisfactory, he announces so by saying, "I'm good," or something similar. If he is not satisfied, he may pass it to the player to the left — the player to the left must exchange a card for the unwanted card unless he shows he is holding a King. When that transaction is complete, the privilege passes to the player to the left and continues around back to the dealer. The dealer has the same decision as the rest of the players, but he must choose whether to keep his card or exchange it with the top card on the deck.
When all exchanges are complete, the players turn their cards face up. The player with the lowest card on the table loses a life (signified by throwing one counter in the middle of the table). The game continues until all but one player has lost their lives.
After all the exchanges are complete, don’t end up with the lowest card on the table. The lowest card loses a life; the last player left with lives is the winner.
mix it up
Add the following rules to raise the stakes:
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