All this takes is pieces of cardboard, colorful yarns, tape, scissors and a blunt big-eyed needle if the kids are old enough to handle it properly- otherwise just the tape. The cardboard becomes the loom, and it’s all visually and completely explained in this tutorial:
What a great craft activity for developing those small motor skills and perseverance, as this isn’t finished in a minute and takes focus and concentration.
The finished weavings can be used as doll house rugs or make them square for coasters that the kids will see you use and be proud of their accomplishment. They might even want to make some as gifts for family members, say Grandma.