Here's another easy and inexpensive project that's great for kids. Mason jars are sold at most dollar stores, and you can dress them up using paint and crafting supplies. Just paint a little face of a bunny on the front, and then add some ears, and you're all done. The best part is you can paint the lids and jars separately so that you can still use them to store stuff.
Don't need to store anything? Then, cut a hole on top and turn it into a piggy bank. Mason jars are really versatile, and they look great when they're dressed up.