We have been doing it every year since my kids were little and I think my son and I are going to make little baggies for each of the kids in his pre-school class. Don't forget to sprinkle it on your lawn on Christmas Eve :)
Dry oatmeal
Granulated sugar
Colored sugar
The fun thing is that you can add whatever you like to it! We have added m&m's and fruity pebbles before too! Did glitter one year, but then realized that was not very eco friendly and that the edible stuff didn't harm any animals that do eat it!
