That's quite similiar to one of the ideas I had.
You get a "recreation area" which gives you certain amount of slots. You can upgrade the area to get more slots.
You will be able to put certain items into those slots, which will change the atributes you get when you use that area and skip half a day in it.
If you put in things like toys or games, you get a mood bonus. If you put in skill books, your trade skills would increase. The more slots you have, the more freedom you will have in combining these bonuses, like when you put in wooden toys and smithing handbook, you will gain +1 mood and +1 smithing. If you put in two wooden toys, you get +2 mood and so on.
It should be quite easy to make. I try and finish it today.
As for the mood, chatting with kids will give you more mood than with adults. You can also try buying bread from Billy, which gives I think 5 mood. Beer and cider is also relatively safe alcoholic drink that won't make you too addicted.