Organize the exchange as part of your regular book club. Ask each member to bring five books from their collection that they are willing to part with. Set up a table near the door where they can browse after the discussion and select a few volumes to take home. Consider selecting one of the exchanged books as the subject for a future meeting.
Set up a genre exchange by asking participants to only bring books of a certain type. Try non-fiction, science fiction, romance, classics, mystery, horror or "chick lit," for example.
Create a mystery book swap. Have friends wrap two used books that are in great condition and write the genre of each book on the wrapping paper. Let one person choose a package from the table and open it. Allow the next person to either take the first person's books or choose a wrapped package from the table. Repeat until everyone has books to take home.
Stimulate literary discussion by allowing each person in the book exchange to briefly discuss the books they're offering to trade. Encourage them to talk about interesting themes, quirky characters or imaginative settings that might pique the other readers interest.
Let your kids participate in the book exchange by bringing picture, board or chapter books that they are no longer reading. You can also ask your child's teacher to organize a swap where classmates bring a used book and go home with a different one to read.