Using watercolor paper, liquid water colors, and 8oz spay bottles, dilute the liquid watercolor to your desired pigmentation. This is not easily washable, so have the students wear smocks, or administer the colors on yourself. Warn the parents or dirty hands! Next have the students use foam shapes and letters (adhesive ones are good, but can take paper off when removing after painting is dry...), pre-made stencils of any kind, or even have the students make their own stencils/shapes by cutting shapes from construction paper.