We have tried a lot of things over the years (kids are 14, 11, 9, 8, 6, 4, 3, 2, and due yesterday). Here are a few things that have worked at various times and seasons.
Scripture memory is the easiest, to be honest, because we simply repeat a scripture aloud together every single day until we master it. Then we add a second scripture every day. Once we have a few too many to say all of them every day we start retiring a verse or two to every other day, then every 3rd day, etc. I have found most of my little ones pick up something we’ve repeated like this pretty well within 1-2 weeks.
For scripture reading we’ve done Old Testament Stories and New Testament Stories (you can find them by searching those titles on Deseretbook.com The publisher/author listed on there for them will be LDS Distribution Center.) These are illustrated, easy to understand, and work well for an introduction for little kids.
Our other scripture reading preference is to simply read directly from the scriptures daily. You could start with Penny Gardner Bible Stories (it’s two free lists where she basically found the ‘stories’ for us to read to our kids and skips over long passages of things like ‘begats’. Read one each day. Once you make it through all her lists for Old and New Testament start over again. Or start in Genesis 1:1 and read every verse this time, not expecting to finish a whole chapter each day, though sometimes you will. Other times the kids won’t stay engaged that long.