This has been the best classroom behaviour management tool I've been able to implement into my classroom. You can simply use a paper clip and a pen as the spinning device to help randomly generate a reward incentive/consequence. You have a couple of options on how you may want to use this.
1) As A Class
You can laminate and post both at the front of the classroom. At the start of each week/month/academic year, decide together with the entire class what are the 4 rewards and 4 consequences. After you've established classroom rules, this resource helps students to feel involved in decision-making processes. If you laminate the papers, you can use dry erase markers to use the same page time and time again.
You can have students insert a copy of "Wheel Page" into his/her main notebook. As a quick classroom or homework exercise, let the student write down their choices. Approve or adjust them the next day and then fully implement them into your classroom management strategies.