I am going for easiest to explain. These are absolutely, 100% NOT the best algorithms to calculate $\pi$. This should be fine, because in practice, the best algorithm is to retrieve the digits from a file or webpage! Since you are asking for pseudocode I'll give you actual javascript code, with actual programs that you can run and edit on Khan Academy's website.
The first one is the easiest to understand. I like the second one better because it doesn't use square roots, but it requires intuition about "rate of change". If you don't know how the linked programs work, you can ask questions on the Khan Academy website, or go through tutorials there.
Area of a Circle
You may know that we can describe the unit circle by the equation $x^2+y^2=1$. We can describe the upper half of the unit circle by the function $f(x)=\sqrt{1-x^2}$. We can approximate the area of the circle by dividing it into $n$ rectangles. For $n=1$ we can let our approximation be $A_1=f(0)/n=1$, since we can approximate the height of the rectangle as $f(0)$, and the width as $1/n$, and area equals width times height.
For $n=2$, we sum two rectangles: $A_2=f(0)/n+f(\frac{1}{2})/n=1/2+\frac{\sqrt{1-1/4}}{2}$.
For $n=3$, we sum three rectangles: $A_3=f(0)/n+f(\frac{1}{3})/n+f(\frac{2}{3})/n=1/3+\frac{\sqrt{1-1/9}}{3}+\frac{\sqrt{1-4/9}}{3}$.
We can write this generally: the notation for this is capital-sigma notation.
$A_n=\frac{1}{n}\sum_{i=0}^{n-1}\sqrt{1-(\frac{i}{n})^2}$
As $n$ gets larger and larger we get a better and better approximation to the area, which should be, according to the area of the circle, $1/4 \pi$. So, we write $\pi=4 \lim_{n\to \infty} A_n$.

Javascript code:
var n=10;
var f=function(x){return sqrt(1-x*x);}
var areaApproximation=0;
for(var i=0;i<n;i++){
areaApproximation+=f(i/n)/n;
}
//now areaApproximation is approximately pi/4.
(Program on Khan Academy)
Period of a Spring
This uses the remarkable properties of simple harmonic motion. Imagine you have a cart, with some amount of heft to it, attached to a giant spring which is in turn attached to a wall. The spring keeps the cart in place - if you push the cart towards the wall it will resist and try to push you away, and if you pull the cart away from the wall it will resist by pulling you towards the wall. It also has another property: If you pull the cart two meters away, you experience twice the force than if you pull it one meter away. If we pull the cart away and release it, how does it move? Solving this exact problem requires physics knowledge, but we can restate it: Suppose $f(t)$ is a function that gives the position of the object at time t. Lets say we start at $f(0)=0$, and that we push the cart so that it has a velocity of 1. What we know is that the acceleration is always proportional to how far the cart was displaced, in other words, the cart has an acceleration, at time $t$, of $-f(t)$.
Problems like these are what calculus was invented for. We say:
$f(0)=0$ (the position at time $0$ is $0$), $f'(0)=0$ (the velocity at time $0$ is $1$), and $f''(t)=-f(t)$ (the acceleration at time $t$ is $-f(t)$).
It "just so happens" that the unique solution to this problem is $f(t)=\sin(t)$, with $f(0)=0$ and most importantly, $f(\pi)=0$. So, once the spring has gone from 0 all the way back to 0, $\pi$ seconds have elapsed! There's another way to solve for the function - numerically, by increasing $f$ by $f'$ and increasing $f'$ by $f''$ a bunch of times! An explanation of this would be difficult and a bit out of place here, but it is very intuitive. See if you can figure out how this code works, it uses velocity and acceleration in small time steps, and once the position springs back past 0 into the negatives, we stop the simulation and say that the total amount of time that has elapsed it an approximation to $\pi$.
var time=0;
var position=0;
var velocity=1;
var step=0.001;
while(position>=0){
position+=velocity*step; //position increases by velocity
velocity-=position*step; //apply "acceleration=-x"
time+=step; //keep track of the elapsed time
}
//now "time" stores an approximation to pi
As "step" gets closer and closer to zero, the result gets closer and closer to $\pi$.
(the above code running on Khan Academy)
(Dynamic motion of a spring, on Khan Academy)
Your Formula
I'll write some code for the sake of completeness, but if you're looking for understanding or simple algorithms you should go with the above method!
(uh, the code is ugly, see George V. Williams post, I won't copy it here. Also, it gets within machine accuracy after the first two or three iterations, so make of that what you will!)
(Khan Academy implementation)