Have to love any sortie where the trainee suddenly 'gets it' and has that lightbulb moment - especially if they've been struggling or trying for a while. I had a memorable student a while ago who was an ace in the circuit down to the last 15 feet. We went off on quite a bumpy afternoon, I tried something slightly different and the only thing that stopped him going solo there and then was the wind - and the club's regulations!!!
Other than that, teaching Advanced PPL skills is the most fun for me; Formation and Aeros - preferably a combination of both...
JL