Different regions and different cultures do different things.
We have ham, cooked cabbage (because it resembles money), black-eyed peas (to symbolize abundance), fried potatoes (just because we like them), and cornbread. There will be a clean shiny dime cooked in the cabbage. Whoever gets the dime will have good luck all year; it's guaranteed!
Then, the adults play poker while the older kids keep an eye on the younger ones.. The poker also brings good luck -- to at least one person. I still have the bagful of money I won last year.