So, this story provides great opportunities for learning many valuable things, and this post will focus on some things musical (surprised?).
First - Talk about and describe fast and slow. Have child act out each one by running, walking, or talking to each speed.
Second- Use a good book of this story to read to your kiddo/s. We're using one that I like (published by "The Child's World") because of its straightforwardness, meaning it doesn't have ridiculous modern additions that detract from the story. You can certainly find one at your library.... there are oodles to choose from.
Incorporate a song for the tortoise (slow speed) and another for the hare (fast speed) and insert them in to the story where appropriate. For example, every time the turtle is plugging away, sing the song for "slow and steady" These are ones we used:
I'm fast, so fast
Oh what a pace!
It's easy, I will win this race!
Slow and steady,
I can get where
I must go.
Third - Act out this story with kiddos being a character or with you and your kiddo, if there are no others. Sing the songs as you act each part out.
Do a search for other great activities to go along with this story. I like this simple turtle one we'll be doing from one of my favorite blogs: Go Here
Also, this book compares various animals who are fast and slow:
"Fast and Slow" An Animal Opposites Book (Lisa Bullard)
Have fun and be creative!