With Virginia reels and Russian folk dances, children from Stevens Elementary School and the Soviet embassy school in Washington entertained one another yesterday on the Stevens playground.

The dancing cultural exchange included President Carter's 9-year-old daughter, Amy, a fourth-grader at Stevens, who dressed for the occassion in blue-denim jumper and a red and hite-check blouse.

The 20 Russian girls who came wore their own ethnic costumes - pink peasant dresses and flowered red boots.

One of them, Luba Borisova, 8, came up to Amy and asked to be her partner in the Virginia reel. The two of them do-si-doed together gamely, with Luba appearing to know how to do the dance better than Amy did.

Afterward, Yuri Razumorsky, the principal of the Russian school, said his students had learned the American dance before they came.

"The children share the same language of dance," Razumorsky said through an interpreter. "You can see by their expressions that they enjoy dancing with each other."

The Russians also ate lunch with the Americans at Stevens - hot dogs and baked beans - and played math games for a while on Stevens' computer terminal.

After the dancing, the American children, including Amy, carried their chairs back into the school, and the Russians boarded a big bus. Reporters were kept away from both the Russians and Amy, but several other American children said they thought the Russians danced very well but didn't talk much.

The Russians' visit to Stevens marked the end of a week-long arts festival at school at 21st and K Streets NW, which also included plays and poetry readings, marionette shows and jazz concerts, mural making and papier mache sculpture.

Earlier in the day, the school was visited by Joan Mondale, the wife of the Vice President, and Trody Califano, wife of the Secretary of Health, Education and Welfare.

Last week a similar arts festival was held at Murch Elementary School, 36th and Davenport Streets NW. The Russians also went there and danced.

Peggy Barry, wife of a U.S. diplomat who lived in Russia for five years, said she helped arrange for he Russian embassy children to go to the American schools because she wants them "to go home with some memories of some pleasant activities with Americans."