When I tell my students the word procrastination, they usually look at me like they haven't heard the word. Then, I give them examples: "Procrastination is starting writing this 5 page research paper at midnight on the day it is due." "Oooh!" Eyes light up, heads go down, smiles peak out. I knew about procrastination too in college, so I smile along with them. This video about procrastination demonstrates it perfectly. I think showing just the first minute or so would be fun. Then, you could have students guess the meaning, and they could share examples of times when they have procrastinated. Or, they could fess up and tell what they are currently procrastinating on in their studies.
My advanced study class really seemed to get a kick out of this one when I posted it on our class discussion board..