The PBS Parents site has lots of fun (and free) printables for the holiday season. Your kids can have fun and stay busy with things like this Cat in the Hat printable Christmas ornament, as well as ornaments featuring Curious George, Daniel Tiger, Wild Kratts and Dinosaur Train. There is also printable wrapping paper for each of these. There are also fun activity pages and more.
For each of these fun activities, just print out the design using regular printer paper or card stock and then get out the crayons, markers or colored pencils to decorate!