Let's... ～しましょう

Maybe this should be bumped up since it is so useful. Let`s start...

Construction:
1) ~masu verb - masu + mashou

Here are a few quick and useful examples:

行きましょう。
ikimashou.
Let's go.

遊びましょう。
asobimashou.
Let's play.

先生と話しましょう。
sensei to hanashimashou.
Let's talk to the teacher.

日本語を勉強しましょう。
nihongo o benkyou shimashou.
Let's study Japanese.

This example uses suru. Another example would be:

スカイダイビングしましょう。 sukai daibingu shimashou. Let's go sky diving.

This construction is very easy if you know the masu (formal) form of the verb. If you are a beginner, you probably want to stick with the ~masu form anyway.

Source: thejapanesepage.com