Well, I can tell you what my then 20 month old talks about from our trip in July (she'll be 2 in Nov.).
"Duck... bite... hiney... french fries"
(translation: She dropped a french fry on her chair while we were eating by the pool at the beach club and a duck tried to get it and bit her in the butt, lol!)
"Figment...skunk...PeeeeeeeeeUUU"
(translation: She wasn't too hot on the smell in the imagination ride. She tells this to every stranger we see and they probably think she is telling them that they stink, lol!)
"Lala's...castle...pretty...pink...blue...purple...BOOM"
(translation: Cinderellas castle turned pretty colors and the fireworks were loud)
"Pa...mickey...boom...mess"
(Grandpa watched her while the rest of us went on Splash mtn. I guess she got bored and started to fuss so he bought her a mickey ice cream bar. Yup, mickey bar + 20 mth old + July heat = disaster!)
"Dolls...dancing"
(Small world reference, which we rode over and over and over)
"Pooh...stuck...tree...hiney...funny"
(She thought it was hysterical in the pooh ride that he got stuck in the tree.)
"Man...pop up...peekaboo"
(We got stuck in the haunted mansion for 3 or 4 minutes during the graveyard scene so we were playing peekaboo with the ghost popping up from behind a tombstone. She thought it was like a jack-in-the-box

)
It is so fun to see the world through their eyes! My 4 and 6 yr old had fun too, but my little one was so funny to watch and to hear her talk about our trip is amazing.