I tried this recipe today:
1/2 cup cornstarch
3 Tbsp. sugar
1/2 tsp. salt
2 1/2 cups cold water
In a medium pan, mix all the ingredients together to make the finger paint. Cook over low heat 10 to 15 minutes. Keep stirring the finger paint mixture until it is smooth and thick. After the finger paint has thickened take the pan off the stove and let the mixture cool.
After cooling, divide the finger paint into storage containers depending on how many colors you would like. Add a few drops of food coloring to each container. Seal and shake to mix in color. Cover tightly when storing.
Normally I would caution against using food coloring in a recipe as many food dyes are controversial when it come to your health; however I think making your own paint and knowing what goes into it outweighs this concern.
HAVE FUN PAINTING - I KNOW WE WILL BE