Since different instruments use different verbs for "play" (弾く、叩く、吹く、even 歌う), is there one nice word to wrap them up? [奏]{かな}でる and its variants (演奏、合奏) sound too formal to me. プレイする？
The scenario would be interviewing the members of the band, asking their most/least favourite of their songs to play.
<The "play" verb> の（が）好き[な、じゃない]曲は？
演奏していて楽しい曲 doesn't sound overly formal to me, but you can also say やっていて楽しい曲 or 弾【ひ】いていて楽しい曲. The generic word you can use with 楽器 is 弾く (i.e., 楽器を弾く). A drummer won't complain if you ask this to multiple members in a band simultaneously. When you want to include a vocalist, too, probably やる is the only possible choice. 奏でる would sound needlessly poetic when an interviewer asks something like this.
As naruto mentioned, "演奏する" sounds like a perfectly reasonable candidate, and is not too formal.
Another option is to use the "演" of "演奏"; "演じる". This is however perhaps most commonly used in regards to theatrical pieces, such as opera and plays.
楽器をなにか演奏しますか is what I found in jisho.
