Seathorne Primary School, in Winthorpe, unveiled the new look to pupils returning from their half-term break.
The playground was funded by the Parent Teacher Association (PTA) and school, with two-thirds raised by the PTA, and one third by the school.
Money was raised through events such as non-uniform days, cake sales and summer fairs.
The playground lets children play and have fun but also has the dual purpose of being educational, letting pupils learn in the great outdoors.
Pupils can now practise their times tables on a large number grid, or learn the time with a painted clock.
Michelle Smith, administrator at the school, said: “It is so nice to watch them giggling and having fun.
“It makes learning fun.”
Kristy Wilkinson is vice chairman of the PTA and works as a lunchtime supervisor at the school. She said: “I get to see them outside enjoying themselves. It has made a big difference.”
Kristy said it was money well spent and added: “The children absolutely love it and get so much out of it.”