Recent advances in the realization and understanding of MgB2 tunnel junctions and SQUIDs are surveyed. High quality MgB2 junctions with suitable tunnel barriers have been realized based on both oriented and epitaxial thin MgB2 films. Multiband transport properties, such as the existence of two energy gaps, phonon spectra and anisotropy have been investigated with these junctions. We review the suitability of different barrier materials and recent advances in obtaining reproducible all-MgB2 Josephson junctions for superconducting electronic circuitry. The development of epitaxial thin films has also led to high-quality multiband MgB2 SQUIDs and magnetometers that operate at high temperatures. The multiband nature of MgB2 provides new phenomena such as the Leggett mode. Manipulating the different phases of the condensates could lead to novel MgB2 devices with phase degrees of freedom.