I'm with Ice here - specific toys go out of fashion and won't be played with after some time. But Legos (or Duplos for younger kids) or art supplies like markers and paper last forever. Good colored pencils and some great coloring books work too.

If you are really broke - PlayDoh can be made - in any color you want.

http://www.instructables.com/id/How-...ough-Play-doh/

I spent years making it