I love these stamped dish towels by Banana Frog! This looks like a quick and fun project, and would make a great wedding or housewarming gift (I’m a big fan of the “you wash, i’ll dry” motif!). [click here for project info]
You can find a large variety of dish towels and tea towels at the dollar store, including plain white flour sack towels. The ink used by Banana Frog is Versacraft Permanent ink.
Project Estimate:

Dish towel, $1
Stamp pad, $2.50

Total: $3.50 plus $1 for each additional towel

I think peg dolls are so cute! I have come across several examples of super cute ones lately, and here is one of my favorites: peg doll necklaces! Grace Violet modified peg doll blanks to add a screw eye to them to make them wearable for her daughter.  [click here to see Grace Violet's necklace tutorial]
The best part about peg dolls is that you can paint them to reflect your own interests. For example, I recently saw some Little House on the Prairie peg dolls–love ‘em! I’ve also seen adorable …

Leigh Ann from The Object Project created her own crayon “doodle buddy” using a little stuffed animal (of the variety that are all over your house!), a crayon, and a little craft ingenuity. These are great for helping little hands grip crayons, and they look like they make coloring super fun! [click here for full project]
How about using kid’s meal toys for this project?
Project Estimate:

Small stuffed animal, $1 or on hand
Crayon, on hand
Hot glue

Total: FREE to $1

Have extra long-sleeved shirts that long to be remade for summer? Look no further than this innovative tutorial by luvinthemommyhood, appropriate for beginning sewers. Raid the nearest male friend or relative’s unwanted clothing, or check out the thrift store for a huge selection of shirts. Use a cute stash fabric scrap for a fun applique, and get sewing!
Project Estimate:

Long-sleeved men’s shirt, on hand or thrifted
Elastic or ribbon, on hand or $1
4 buttons, on hand or $1
Scrap fabric, on hand

Total: FREE and up

Here’s another great use for those flat decorative marbles. I love the colors used in this dreamy jeweled planter by Centsational Girl. These are a great way to glam up your patio, but I think they would also be fantastic for wedding decorations or centerpieces, or as decor for a baby or wedding shower. They would even be fun for a little girl tea party or princess party. Really, you can adapt them for a ton of uses just by switching out the paint and marble colors. [click here for …