I feel like kids are naturally entertaining and always see the truth of a situation - and they aren't afraid to go right for it.
If a dinner party is boring, it's usually not because the kids can't understand the idiosyncrasies of your conversation about Bed Bath & Beyond's latest towel sale, it's because that conversation about towel sales is lame. And a kid will almost always point that out.
Kids really have an instinct for this kind of stuff, as do great comedians. They will exploit everything in their situation and the situation around them to keep themselves entertained, and sadly, a lot of adults train that instinct out of them by having them go in a "proper" direction instead of channeling it. Which is a shame.