I got this recipe and idea from a great website called Kaboose
This is for Salt Dough:
2 parts flour
1 part salt
1 part water
Mix together well, if needed knead the dough. Roll out and use cookie cutters to make different shapes or make your own creations with your hands. If you want to use these little trinkets to hang on backpacks use a toothpick to make a hole big enough to fit some string through when they are done baking.
Place on cookie sheet and bake for 2-2 1/2 hours at 250 degrees. Let cool and then paint.