Here's a quick holiday craft project craft for kids -- custom magnets. 

Adhesive business card magnets can be purchased at most office or craft supply stores, or you may collect  the promotional business card magnets that arrive in the mail and paint over them.

Prepare a table workspace with butcher paper or paper shopping bags to catch drips. 

Plastic container lids make catchy paint palettes.

Glitter paint may be used to make stars, flames, magic wands or faces "sparkle."

A well washed metal can makes an ideal storage container for play magnets.

Step One: 

Cut magnets into pre-determined shapes and designs, such as stars or bars or circles or triangles. This can be done ahead of times, or kids can be given safety scissors to do their own cutting. Some magnets may be difficult for small hands to cut, however.

Let your holiday or event determine the shapes you create -- stars for Christmas, candles and flames for Chanukah, etc.

Step Two:

With paints, stamps, coloring pens or glitter gel, allow kids to freely decorate their magnets.

Step Three:

Afix decorated magnets to metal cans, or another metal surface, and allow to dry. 

Step Four:

Present and display finished magnets. Celebrate creativity!