Hi T.,
We had one at the school I went to for Small Animal Services. It was abandoned and adopted by the vet tech program. They aren't very nice and cuddly like they seem. They're very cute, but other than that, they generally will just stay in their cages and enjoy dust baths. If you want a "pet" of the chinchilla type, go for a bunny. They can be litter trained, are usually sweet (if you get them from a good breeder who has handled them) and can roam free around the house like a cat after their litter trained. And they're fun and cute. Just make sure you read up on them as they get urinary tract infections very easily and it can be deadly to them. And don't feed them alfalfa and pellets - they're full of calcium which causes the UTI's.
Here's a link to vets in each state who subscribe and care for rabbits http://www.rabbit.org/care/vets.html
ASPCA Website about rabbit care http://www.aspca.org/site/PageServer?pagename=pets_rabbit...
http://www.vetmed.wsu.edu/ClientED/bunny.asp
I'd personally, steer clear of a chinchilla especially with kids, and opt for a rabbit.