Both of my daughters love play dough. They frequently get sets for birthdays or holidays. Here is a recipe for edible play dough. I like this idea because not only do they get play time but they get a little snack in the process.
1 cup peanut butter
1 cup nonfat dry milk
2/3 cup powdered sugar
Place peanut butter in a large bowl and begin working in both the dry milk and powdered sugar in small batches. Working it with your fingers works best. In the end the texture should be like play dough. :) If it is too sticky add more dry milk. If too dry, add more peanut butter. This will keep up to a week closed tightly in a plastic bag or container.
The kids can play with making different snack creations using pretzels, raisins, nuts, candies, etc.