Turn empty fruit and vegtable cans into craft jars by covering them with scrapbook paper. Okay. I'm going to do this, but I don't use a lot of cans :(.
Free Printables of Initials - Each initial is filled with images starting with that letter.
Get a cheap shelf from Ikea. Attach a mirror and cork board and put it on top of a lazy susan (also from Ikea). I can do that!
Put a picture of what you're saving for in a shadow box and cut a slit for money - that would be great inspiration for the kids to save!
Large Felt Christmas Tree - keep kids entertained for hours decorating and redecorating
Elmer's glue on canvas. Then paint the whole thing one color.