My students LOVE this activity every year and I have done it since 2009! 10 years of fun! It is done in my College in the Schools The World Wars course, AP courses, and regular World History and European History courses.
This is a 4 page document that contains the letters sent between Kaiser Wilhelm II and Czar Nicholas I just prior to the outbreak of World War I in 1914. I have 2 students sit up at the front of the classroom to be Willy and Nicky. I bring in 2 suit jackets and I have 2 feather quill pens set out for them to "pretend to write the telegram." Sometimes I have had a student just pretending to write while someone else does a voice over and other times the student reads while holding the quill. Either way the students like the set-up. Of course it would work to simply have 2 students read back and forth to each other without the added props.
When they are done reading, I have the students answer the 4 questions and we usually discuss it as a group. Takes usually 20 minutes. Sometimes longer based on the discussion.