This can be a really fun party game.
1. The idea is to come up with a subject.
2. Then, each person comes up with a poem on that subject.
3. Or, each person can come up with different subjects.
4. Also, subjects can be written ahead of time, and pulled from a bag. etc.
5. The poems can rhyme or they do not have to. Though, most people will probably try to come up with ones that do. You will see how creative everybody is.