Al Johnson's - the place with the goats on the roof
Hands on art - for any budding artists, especially great if it is a rainy day!
Fred and Fuzzy's is a must do restaurant. Casual outdoor dining, with a casual "sandwich kind of menu".
I found this link of restaurant reviews - from visitors (as opposed from actuall restaurant reviewers.) It also mentions PC Junction - which is a great place...great burgers, and your food gets delivered by a miniature train. There are also reviews for Fred and Fuzzy's, as well as Al Johnsons. It also mentions the Sister Bay Cafe, which if I recall from my parents, is owned by former chefs of Al Johnsons, so the cost may be a little less, but the food just as good. The lines at SBC will be less too, but you ahve the added benefit, it is so close to Al Johnson's that you can stop by to see the goats on the roof.
Julie's is also just nice good old fashioned food. Despite what the link says, we've found the portions to be more than adequate.
There is plenty of go-carts and mini-golf available, not sure it is necessarily "budget-friendly".
In the city town of Sister Bay, there is a nice park with playground equipment down by the lake front.
Penninsula State Park is a nice thing to do. You'll have to get a state park sticker. There is a huge climbing tower (free) and there is an interesting lighthouse tour (costs money - don't remember how much).
If you go the last week in August, but not on the Labor Day weekend, there may be bargains, because the "slow season" seems to start when the schools start back up.
One fun thing - if this is your cup of tea, and won't cost money unless you buy something is get a list of galleries, and go take a look around.
There are bikes that can be rented near the entrance to Pennisula State Park.
There is also a
drive-in theater - one of the few remaining in Wisconsin. The times we go to DC, the movies have been awful...so I would check the options in advance.
I can't help on lodging, since we stay at my parents house.