Baking is probably the number one real life application for fraction use when you're little! Bake your favorite recipe and show kids that you need four 1/4 scoops to make 1! They think it's funny but honestly it sinks in! Teach sharing in halves, thirds, twelves if you have to!
Here's another great idea! Get a $3.00 set of measuring cups and give them to your kid to play in the bath with... before long they'll be using the smaller ones to fill the larger ones! Doesn't seem significant but it's a big step in math!