This idea originated from Family Fun.  It was a simple project that will be great for a class valentine for school-age kids.

You'll need:  Pencils, pipecleaners, cardstock, scissors, 1/8" hole punch, and beads.

Cut small heart shapes from the cardstock.  You can make one and let your child use it as a stencil for the others.  Let your child write a short message on one side and their name on the other side.  Punch a hole near the bottom of the heart.

Put a bead on the pipecleaner, about 1 inch from the end.  Now, put the heart on the pipecleaner.  Bend the end of the pipecleaner and push the end though the bead, so the bead is holding it together (or if you don't have beads, you can just twist the pipecleaner to hold the heart in place.

Hold the end of the pipecleaner near the eraser of the pencil, and start winding around the pencil.  That's it.  You have cute valentines for classmates.

Options:  Feel free to get creative with the decorations. Maybe you want to add feathers to the hear with glue, or decorate it with glitter.  Use more beads for a more ornate look.  You could package it with a cute eraser or pencil sharpener or a small notebook.  This could also make a cute birthday party favor.