It's a fantastic idea - but I would point out what a child sees in their head vs their drawing capabilities are probably very different. Still, I guess they could recognize it as something they created and it might encourage them to keep being creative?
Well, if they draw something and declare "That's my friend Foo!". If you show up with a stuffed version of their drawing, they are likely to recognize that as "Foo". Kids have a way of not letting their lack of drawing skill or details get in the way of a good story.
Plus, I doubt they could turn a 3 year old's drawings into something. My kid's drawings aren't that recognizable yet... (just lines and squiggles)
I think it's probably much more valuable to the parents than the children. While your kid might get a kick out of it, this is a pretty good alternative to keeping the same pictures on the fridge for several years at a time.
Judging by the stories on the blog, the drawings often come with explanations about some of the details. Take a look at some of the drawings and corresponding toys.
I am thinking more of a "turning it into reality" type of concept. Learning kids that they can turn an idea into something (tangible?) might be a valuable lesson.
