You're most definitely not going to get your kids the Apple Watch, but if you really want and don't want to break bank, you can try getting these felt versions. They're cuter, and probably more durable (ie. it won't break if you drop them!)

Made by artist Hine Mizushima, she created the super low-tech Apple Watch designed for kids:

It comes in a lot of colors too:

It definitely won't spoil at the speed of immediately in the hands of kids.