During the long and dark days of high school, I learned many pen tricks to entertain myself. For someone as fidgety as I, these have proved life-long sources of distractiony goodness.
They are (I'm making up names now...): The Rise, and The Twirl
Step 1: The Rise: Positioning the Pen
Place the pen between your middle and ring finger, and rest the end in the soft tissue between your index finger and thumb. If you're using a pencil, or an evenly weighted pen, you can use either side, but if one end of the pen is heavier than the other, make sure the heavy end is sicking out beyond your hand.