I tied a paperwad on a string and hung it from the laundry pole, and the cat spent the whole evening attacking it. It had me in stitches, so funny!
Stalking... ready... aim... And... Yesssss!!! The cat *IS* faster than the paperwad! Oh, happy cat! Here is a video of Monster playing with the paperwad. Too bad he lost interest after one day, as it was highly entertaining to watch.
TV does have one advantage over cat watching: the TV doesn't switch itself on at 5am when you are still trying to sleep.