I love arts and crafts--I just wish I had more time to do them! I won't give you a list of the "usuals," since you've probably already thougth of those.
Instead, I'll share some ideas that I would LOVE to do (especially if I had 3 girls to help!):
1. Make cards (all occassions--birthdays, anniversaries, holidays, etc) then you never have to stroll the card aisle at the last minute.
2. Scrapbooks! You can find tons of stuff on sale or cheap, chop up some pictures, use stamps, stickers, pretty paper, etc.
3. Crochet--already know how? teach the girls. Or, pick up a "learn to crochet" book and y'all learn together. It's a great way to keep your hands busy and finished blankets & scarves make excellent gifts!
4. Make clothes--do tye-dye or get fabric paint and design personalized shirts (or hats, or purses, or...).
5. Make jewelry--start with inexpensive beads and string, work your way up to the fancier stuff.
Just stroll the aisles of any local arts & crafts store (Michael's, Jo-Ann, Hobby Lobby) and see what strikes your interest. Take your girls and see what interests them! Participate in local activities & events (Michael's does seasonal art projects, go to arts & crafts shows, flea markets, etc) to get more ideas!
Don't get upset if the girls aren't interested at first. I rememember my mom trying to show me how to do stuff like that when I was a kid and I would rather be outside playing or watching tv. But, now, I'm almost 30 and I get compliments ALL the time about the "crafty" things I do (at home & at work)! I hope to get my girl into crafts, too, so she got a really cool art easel for Christmas! I even started showing her how to string beads for homemade jewelry! (She's 2.)