Well here re a few that my kids enjoy...If you have brown paper bags,Give them paper bags with markers,buttons,anything they can use to decorate them with then let them make their own bag puppets when they are done let them have a bag puppet show with you as guest of honor.
Paper plate masks is another fun thing to have them make use yarn to have them tie it on them.
Paper snow flakes out of white paper then tie strings to them hang them from the ceiling in their room like it is snowing in there.
Give them old magazines and paper let them make a collage its messy but fun.lmao...
Macaroni art this is fun and you can get as creative as you want with it..
Now this is weird but young kids love it give them a phone book a play phone or old phone and paper and pencil tell them to play like they are making phone calls to people and stores my youngest daughter loved this and would play for hours lol..
If you have a old shirt and some markers let you kid color it and then wear it they are so proud of their artwork the bad part is they don't want to take it off..
Making cookies with mom is always fun,roll out the dough and let them use the cookie cutters to cut out the shapes then make them in charge of sprinkles..
Paper plate wreath or Santa is always fun for x-mas
Paper cup reindeer
Paper bag gingerbread man..
Candy canes out of pipe cleaners..
Snowman on a stick,use cotton *bleep* and a stick from the yard or a Popsicle stick....
Ornaments well with this you can do so many things and use so many things around the house.
Hope it is fun for you and your kids