Okay, since we're being serious...
Drop $200K into about 10 different accounts at different Credit Unions just to have it there. Throw some cash in a safe deposit box "just in case". Give my IRA a massive contribution. Pay off our house, and probably the rest of the immediate family's houses as well. Buy a nice bit of property closer to the fam with a modest house and build a big shop. Buy a vacation place next to the fam in Florida and Cali.
Then comes the fun stuff!
Step one would be a giant track of land and build a race track. Think Nurburgring, but not a copy, following the natural features, through our glorious hilly woods up here in BFE. Then charge $10 a lap.
Next would be a racing complex within the ring. SCCA/NASA style road course on par with VIR, a smaller shorter track for HPDE/training, a dragstrip (1/4 mile), a kart track, and a giant autocross/skidpad. Basically make the racing capital of the world.
Next, I'd buy IMSA and the rights to Trans Am and Can Am. Setup the most awesome series in the world.
Of course while all that construction was going on I'd have to buy some cars. Wifey gets a Tesla Model S and the Mustang GT she wants (05, Windveil Blue, cloth, Auto). Mom gets the Edge Sport EcoBoost she wants, StepDad gets the CTS-V. Dad gets a Grand Cherokee SRT8 and a new trailer. He'll probably want to keep his Cessna 310, but I'll try to entice him into a jet (to take me places, lol) and a cool old warbird.
And for me? A rotisserie to restore the Javelin... Okay, okay! I'd probably pick up a Boss 302 and a Boxster S initially. Probably do a FIAT 500 Abarth for a DD. Then I'd go vintage shopping. I need to find and buy back Dad's 70 Mark Donohue Javelin and Gramp's 68 AMX 390. Then I'd like a Ferrari F355 Spyder (Fly Yellow, 6-speed), an FD RX-7, and a GTO.
Then I'd probably spend all summer at my tracks and all winter building bizarre cheap beaters.
The interest would so be buying some warbirds for a museum though. I'd actually probably go jets. How many F-14's, F-15's, and F-16's are getting saved in flying condition? F-4, F-104, F-86, Mig-29, Su-27, Mig-15, Mig-21, and an A-10...