Danish heart baskets -- can be filled (with candy, money, etc)! Pinner said, "When I was a kid, I used to make these out of paper for Valentine's Day." Use felt to make a more permanent heart basket.
Cardboard and collage houses - group art project idea
DIY Kandinsky Circles Felt Board - could create a set of images that the kids need to recreate with the felt pieces
Consider using black glue outline or drawing first Tutorial on making a diffusing watercolor masterpiece by Crafty Kate!