Here's what you do: You will need one pipe cleaner per bracelet and an assortment of cloth covered buttons (or any kind of button with the hole in the back). Have your child string the buttons on the pipe cleaner. Then just twist the ends together to form a ring and tuck the sharp part of the pipe cleaner in and away from their skin.
You can have them sort the buttons into categories during this activity, or have them make patterns with the buttons. For the really little ones, just have them identify colors or buttons that are the same. Or, just have a blast making really funky and cute jewelry!