At that age, they don't need much... I hosted an ice cream social/bingo night at my son's last school and do you know what the kids that age played with the most... no, no interest in bingo.. they liked the ice cream ... but the BIGGEST hit.... I had blown up a bunch of balloons, like say a 100 or so .. put them in these big green plastic bags.. once all kids were inside, I dumped all the balloons out in the children's play area and the kids went WILD.. they LOVED it.......... they made up all kinds of games.. running around chasing others, throwing them up in the air...
so......... at your house, do you have a spot where kids could play , even the garage.. you could fill it up with balloons.. I am not talking about expensive balloons either. I bought those packages of them that are pretty inexpensive..
Also, BUBBLES... cheap and lots of fun...
let the kids decorate their own cupcakes...
pin the tail on the donkey..
jewelry ... buy a bunch of beads (they have big packages for cheap) and put the bead into different bowls at a table...
bean bag toss (use a beanie baby or some other heavier toss item) toss the things into containers.. could be big bowls...
make a big batch of pasta, french bread.. drinks..
if you give the kids bubbles and let them do a beaded bracelet or necklace.. then no goodie bags needed..
keep it simple.. it can still be fun