Crocheted basketweave throw, what a great idea.
43 different things to add glitter to...Why did I not find this site sooner!
It's called a "Punch Box" and it's a great alternative to a pinata. (Four-year-olds with big sticks can be a little scary sometimes.) Instead of beating on a pinata with a stick, each child punches through one of the pretty colored circles in order to grab the prize inside.