Here is the recipe I used for the finger paints...
http://familyfun.go.com/arts-and-crafts/drawpaint/expert/dony0400aapaint/dony0400aapaint.html With a batch of this quick and easy finger paint (which keeps for at least a week in airtight containers), your child can finger paint to her heart's content for just pennies. It's perfect for using on paper or in the bathtub.
• Mix together 2 tablespoons of sugar and 1/3 cup of cornstarch in a small pan, then slowly add 2 cups of cold water.
• Cook over low heat, stirring until the mixture becomes a smooth, almost clear gel (about 5 minutes).
• When it's cool, stir in 1/4 cup clear dishwashing liquid.
• Scoop equal amounts of the mixture into containers and stir in food coloring (or, for even more vibrant colors, use food coloring paste).
Another fun painting option for little kids is to cover a tray or cookie sheet with waxed paper and have your child spoon tempera paint over it in different colors. Cover with another sheet of waxed paper. Your child can press down on the colors and watch them blend and move.
It took about 15 minutes to make it. It ends up a little goopy and I found that about 3/4 cup of paint base mixed well with 5-8 drops of food coloring. Any more than that and I noticed that the painting was staining skin. We used finger paint paper. I tried regular paper but it just got messy. Other than that, it was really handy considering I never buy finger paints. Oh, and none of the pictures were "masterpieces" and I just ended up throwing them all out. But the kids had fun for a good 30-45 minutes painting.