Blanket stitch is used for working the edges of table-covers, mantel valances, blankets, etc., or for edging any other material, including clothing. The blanket stitch is similar to the method used for the buttonhole stitch but there is more space between the stitches and a definite requirement for even regularity. This stitch is also quite easy and would be a good project to do with kids!
For detailed instructions with words and pictures, please go to:
Below are video instructions for your reference.
(Want to buy a DIY sewing kit, to sew something for your kids??
This may help: http://www.etsy.com/shop/ShineKidsCrafts?section_id=12537523)