The right turf grass will depend on your environmental conditions (climate, soil, water availability), as well as your needs and wants.
Buffalo Grass (Buchloe dactyloides) is a great choice for a drought tolerant lawn, and that is important in now-constantly drought-stricken California. Many people have gotten rid of their lawns. I know I did...
The downside to Buffalo Grass is that it has a tendency to be lumpy and uneven, and will brown out in winter.
The newest Buffalo Grass (Buchloe) turf cultivars, such as 'UC Verde', are bred to alleviate these factors, but with only partial success. There are tradeoff. To keep your lawn greener in winter you need to mow it less, particularly in fall. This will also make the lawn lumpier, but it will almost eliminate mowing labor. Also, unmowed lawns can use less water, because they aren't encouraged to grow as quickly by being constantly cut.
Will your children want to play on such a lawn. Perhaps, but keep in mind that constant foot traffic of any sort will lead to bare spots.