This is a good topic.
Mr W and I spend time at the park several times a week. There are older kids there and he spends a lot of time watching them and desperately wants to play with them. He can do most of the things they do such as climb the ladders, walk the rope bridges, do the climbing wall, etc. But they ignore him. To them, he is a baby.
At school, he is accepted because the older kids "teach" him stuff and he picks it up immediately, and he has a 50,000 watt smile that no one can resist.
I see him thinking about how to get into the fun, but he needs a few more months before he can negotiate the social dance.
For kids his age, he gets them in trouble quite a bit. The school has removed a lot of toys that they used to play with outside because Mr W would go too fast or get kids to ride while he pushed and the other kids did not have the physical skills to handle it - though one little kid is a real hard charger, too. They also try to do things he does - like climb up slides, climb the fence, etc.
Academically, he is learning to be patient to give other kids a chance, rather than blurt out the answers. IMHO, this is good.