Option 1: Have construction paper, scissors, glitter, peel-and-stick gems and other fancy decorations, glue and tape on a table. The children can cut tiaras or crown shapes out of the construction paper and tape them to fit their heads. Depending on the age of the children, they may need to tape two pieces together to go all the way around. They can then decorate the tiaras.
Option 2: Get foam tiaras from a craft store and have the children decorate them with peel-and-stick gems and stickers.

Fairy-Godmother Wand
Option 1: Cut star and heart shapes out poster board or other stiff paper in advance. Cut two openings toward the bottom to slide a straw through. The children can decorate these with glitter glue, sequins and crayons.
Option 2: Buy a foam kit from a craft store and let them decorate those.
Option 3: In advance, cut star and heart shapes out of light-colored felt. Sew two pieces together and stuff them with batt. Attach a stick. On the day of the party the kids can decorate with fabric markers and glitter.
Necklaces and Bracelets
Have small buckets of beads on a table for the children to use to make bracelets and necklaces. You can give them lengths of fishing line, pipe cleaners, yarn or string to thread the beads onto by hand. You can then tie the ends or have barrel clasps available. Be sure to get bead sizes that are age-appropriate. For instance, pony beads are easier for younger children to handle.

Have a selection of tissue paper cut into strips six to eight inches wide by ten inches long and green pipe cleaners available to make flowers. Have the kids take four sheets of tissue paper and one pipe cleaner each. Have them fold the tissue paper in an accordion fashion and then tie the pipe cleaner around the middle of the folded paper. They can then gently pull up the tissue paper to form the petals.