If you and your friend, ride bumper cars at the fair, what happens in terms of newtons third law, when they collide?

Newton's third law says that for every action, there is an equal and opposite reaction. So if your friend's bumper car, both of you will go flying back at the same force in opposite directions.
Hope this helps.

According to Newton's third law, when one object exerts a force on another object, the second object exerts an equal force in the opposite direction.
So when the first bumper car collides with the second car, the second car will exert an equal force in the opposite direction from the first car. 
Hope that helps:D