My friend shared this playdough recipe with me last year and we have LOVED it. It's quick and easy to make, and I have found that it doesn't dry up as fast as the "play-doh" brand.
Here's the recipe:
1 cup flour
1/2 cup salt
6 tsp. cream of tarter
1 tblsp. oil
1 cup cold water
Over medium heat, mix the first four ingredients together. Slowly add in water, food coloring and flavoring if desired (almond, mint, etc. to make it smell good). Stir until it starts to form into a ball and leaves the sides of the pan. Pour onto wax paper and let cool slightly, then knead with hands until the dough is smooth. Cool down and enjoy!
This recipe makes enough playdough for one child, so I double it when I make it for John and Dan and it is plenty. The kids love to roll it out then use cookie cutters to make cookies. I throw it all in a tupperware when they're finished playing, then it can be used again again. The gift that keeps on giving!