Cheating is the best part! But in my neck of the woods the wishbone thing is actually a bet. You pull it apart, after naming the amount being bet (it’s usually a thing), and then from then on, until someone wins, whenever one of the players has to give something to the other (hand them something &c) the person that’s being given the thing has to indicate that they still remember the bet. If they fail to do so, the person giving can, once the person being given has grasped the object, remind them of the bet, thus winning.
It’s sort of like wishbone crossed with The Game (which you just lost). Great fun.