If you want something more than just reading definitions to practice vocabulary, this is a great tool. This activity works well for reading vocabulary, or other new vocabulary being introduced. In my class, we have an interactive notebook, so the students glue these pages in their notebooks.
Before giving the students new definitions, students read the word in context. They use context clues to make a prediction of "what they think it means."
Then, you can give students the definition/have them look it up. Students write key words from the definition down and circle the correct part of speech.
For the "examples/application of," students can write a short sentence, put examples of the word, etc. For example, if the word was "performers" students may write examples of performers: singers, dancers, etc.
Students can also draw a picture and look up synonyms.