Never let it be said that fish keepers are one dimensional. All of the previous advise was great...hotdogs and Ivory soap...well I'll be.
I can't remember their name but they sell a thousand varieties of it all over the country. Mr. Twister or Bass'n spin I think. It's a small jig head (a hook with a lead sinker cast onto the eye end of a single barb hook and an eye painted on the sinker) with a bent wire that carries a small metal spinner just above the jig head. You can get all different colors of rubber grubs with wiggling tails that slide on the hook and last most of the day. They aren't any fun in the weeds but bass and panfish will all take it and I've even caught striped bass with the bigger ones (and baby they do fight).
I'd stick with the Zebco recommendation (read the directions when ya get it - the drag is also explained there). They're about as bullet proof with kids as it gets. Also my preference with the little ones is to stay away from the treble hooks (Mepps, crank baits, jitterbugs, et al) 'cuz all a kid has to do is be in the same county as one and they're stuck. Nothing puts a damper on the day like a trip to the ER.
Bobber and worm, cricket, minnow, hot dog, all sounds good though. The kids get excited when they see the bobber start dancin' and even if they don't get the fish it helps keep them in the game. Matter of fact, the less casting that they're doing the better. Safer that way.
Generally the earlier you're out the better and mid day in the summer is usually a better time to take a nap than fish.
Most of all good luck and have fun.
