My oldest son is 5 years old and the following are funny stories, situations and sayings he generated:

(me) Isn't having a brother awesome?
Ephraim:Yeah its awesome, me and brother can make a rainbow in the SKY! 
After we finished making a pinata for his birthday
Ephraim: We should make these and give them to (needy)children in Mexico 

Ephraim:Hey Mom, we should Google "How did Jesus create the world if he wasn't born yet?"