I will definitely be doing this for our kids!! And there is always a possibility that we will end up in it too.....
Oil Drip Pan from Walmart. As a giant magnet board ($12) Could do one the wall next to the closet and have magnetic letters, shapes, etc. (All big enough that Grace can't choke)
DIY Lego table made from IKEA Ingo Dining Table and IKEA Trofast buckets.
We are TOTALLY going to do this when we have Grandkids! WOW! wish I would of seen this 15+ yrs ago when we bought a blow up one!