Flower Vase: Best for pre-schoolers and older. Clean out a glass jar and remove any labels (hot water is usually best). Cut pieces of colorful tissue paper and lightly glue the tissue paper onto the glass jar. Let dry and fill with tissue paper flowers (http://crafts.kaboose.com/flower2.html ) or real flowers.
A Novel Idea: Have your toddler or pre-schooler dictate a story to you for the grandparents (it may be a few tries before you get a winner). Write it down on different pages, have your child draw pictures on each page, and bind up in a book with yarn or binder rings.