The popular playground game where one player chases the others and if one player gets caught they become the chaser is called "Tag." It is also known by other names like chase, tig, it, tiggy, tips, tick, on-on, and tip in various regions. The basic rule is that the player who is "it" chases the others and tries to tag one of them. When a player is tagged, they become the new "it" or chaser for the next round. This game has many variations and is played worldwide under different names.