I recently threw my 5-year old daughter a Pancakes & Pajamas party, and it was so much fun! (And so easy to do at home and with a budget!) Using scrapbook paper, I created banners, cupcake toppers, water bottle wrappers and food signs. I made a big batch of pancakes the night before the party, then the girls used cookie cutters and lots of toppings to create their own edible masterpieces! Activities included threading necklaces with O-shaped cereal, and decorating paper sacks for pinata candy. The girls were sent home with little baskets of milk and cookies as parting gifts.