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One party that will require a lot of party favors is a carnival party. You can set up various games for the kids to play to win favors. These don't have to be elaborate though. Look for party favors that you can buy cheaply by the dozen. Stickers, small plastic animals, bubbles, bouncy balls, and small containers of play dough make good party favors. For girls, hair decorations and rings and bracelets can also be found inexpensively.