Most two year olds are not very good at group games. Some might play with older kids, but if your guests are all about 2, I hope you don't have very many of them. Something really simple like Duck, Duck, Goose might work. I think I would take them to a playground and let them play on the equipment, or someplace like a McDonald's with those ball pits.
Realistically, maybe you should just let them play with toys. How about they all get a couple little cars right off the bat, and just let them play roads and stuff in the dirt. Presents, eat, cake, and that's it. You might try making balloon animals. I have done that at parties.
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My daughter is turning two early next month! We are having a Mickey Mouse party for her, because she LOVES Mickey!