My DDs started K this year.
The get homework maybe once a week. They love it!! I sit down for 30 minutes every night after dinner to do homework with them. (If they don't have homework, we play a learning game or write in journals.)
The homework generally consists of tracing letters and numbers, cutting and pasting items, or other fun activities that are age appropriate. What kind of homework does your child have?
I strongly disagree with the posters who are saying not to do it. If your child comes home with work and you treat it as a chore or dismiss it, this will teach your child that homework is stupid and not worthwhile. Think about what kind of problems you will have when your child is older and the homework is no longer practice, but being graded.
If you child knows the material that is being sent home, embellish on it. For example, my girls read and write so in addition to tracing letters, they will write a story on the back based on the letters or words being studied. (ex: yesterday was the letter G featuring words such as girl, gate, goat, gifts so my DD wrote a story about a girl who walked thru a gate and gave a goat a gift.)
At our house, we act thrilled when my daughters get homework. After dinner, they quickly clean up their plates and the table so we can do some homework together. It is a wonderful, bonding time and it instills in my girls that homework is a positive thing. (regardless of how I really feel about it.)