Supplies:
Large straw wreath (with plastic still on so that it won't shed)
About 142 balloons
Florist pins

I'd love to hear more idea for creative and inexpensive birthday parties for use in future years. Please feel free to leave ideas in the comments section!
I like the simplicity of the preschool activity As We Walk describes here.
I never would have thought of turning a child's umbrella into a jellyfish like Make and Takes did here- but isn't it cute?
The bubble blower tutorial given by How Does She? is something I really, really want to try (I'll let you know how it turns out probably in the next few weeks).
I've wondered before whether or not making an aquascope would be a worthwhile thing to try. MayaMade has a tutorial here as well as some stories about why they made it and their fun experiences with it.
Read here about Frugal Family Fun's great idea for helping a child spend hours of imaginative and independent fun.
Finally, take a look at this odd and wonderful website to find ideas for science experiments you can do with candy.
I'm afraid I've never liked math very much (much to my engineer father's chagrin). Furthermore, my aptitude has tended to follow my interest. Standardized test results always showed me to be a student very much skewed toward the verbal end of things.
My friend R (who I recently quoted here) has parents who often travel. Recently, on a trip to China they came up with a fun way to share the story of their trip with their grandchildren. They took with them a small stuffed panda and included him in many of their pictures.
After they got home they used the pictures to make up a slide show. This allowed the kids to have fun finding the panda in each of the pictures (kind of like a personalized Where's Waldo!) while at the same time learning about a new culture and hearing about their grandparents' experiences.
I think this is such a special gift! Wouldn't this kind of thing also be a neat idea for overseas missionaries who have children's presentations to give in the States during their furloughs?