Miniature Weaving using embroidery thread, needles and a piece of cardstock - ". using a traditional weaving technique on a miniature scale, you can make tiny little weavings perfect for jewelery projects." or coasters.
DIY Woven Friendship Bracelet Using a Circular Cardboard Loom. Very easy, cool jewelry craft for kids weaving a seven strand friendship bracelet. Tutorial from Michael Ann Made here. This might be a good summer craft for the older kids.