Once you've determined whose attendance is necessary for these meetings, assign a specific task to each participant. This urges participants to prepare for the meeting discussion and get more involved with the meeting itself. One of the best ways to get people interested in their meetings is to make them a little more interesting and fun. Provide small gifts at both sites, such as pens, toys or treats to welcome participants and express appreciation for attending the meeting. You don't need a gavel to call a meeting to order.
Simple games can be available to occupy people's hands during meeting discussion.
Some options are Silly Putty, yo-yos, Slinkys, Koosh balls, Nerf balls, etc. Use different sounds to identify the different speakers. Instead of an individual announcing that he's about to speak, he can use a specific sound to identify himself. This might add some humor to the meetings. Making teleconferenced meetings more fun is trickier than modifying in-person meetings because there isn't a visual element involved.