This is a variation off of the King of the Court (a.k.a. knockout)drill that involves ball handling, pressure, and teamwork.
Every player gets a basketball
Players pair up in twos and/or threes
Players must dribble the ball while they try to knock the ball away from other players.
Players who lose control of ball must sit out
Set up boundaries. (they must play within half court) as the game goes along, you can narrow the dribble area (i.e. three point area, 3-sec lane, ft circle, etc..)
Teamwork variation. Players must hold hand of their teammate. To knock others' ball out, they can bounce their ball while they momentarily attempt to knock out others' ball with the same hand. - They can't let go of their teammates hand!
Use the whole team
This is a good 'stress relief' type basketball drill where the players have a lot of fun. It works great because they do work on their ball handling, defense, and teamwork skills. I recommend appointing teams yourself - so you can pair up varied levels of players.
I like the teamwork add on since it gives those 'not so good' ball-handlers a better chance to win for once.
This basketball drill is licensed under a Creative Commons License. This drill is from Pål Degerstrøm at www.degerstrom.com/basketball.