Craft foam can be used for multiple craft projects for kids. Here is one such craft which you could make along with your kids and they will have fun too.
How To make a craft foam crown:
Draw the outline of the crown on a craft foam sheet and cut it out.
Glue on plastic jewels or rhinestones to embellish the crown.
A view after gluing on lavender color rhinestones.
Continue to add embellishments as per your choice.
A view after all the embellishments have been glued on.
Punch holes in each side of the crown.
Tie an elastic string by inserting in the holes punched.
And the completed crown for your dear princess!
This technique can be used to custom make different types of head wear to suit various occasions and events.