If you are making this for children that aren't your own, be sure they aren't allergic to peanuts and peanut products or dairy. Also, I think the new standard is to wait to feed your children peanut butter until they are 2 and to wait on honey until a child is at least one , so you might want to keep that in mind before you make this.
Now, onto my very first instructable!
Step 1: Gather Your Ingredients
All you will need to make this dough is a little honey, powdered milk, and peanut butter. The recipe I always use for my son makes about one cup of play dough. This is perfect for one child or even a couple of small children, but you may want to double or triple the recipe depending on the age and amount of kids (or adults) playing. It's very easy to do because it's just...
1/3 cup honey
1/2 cup peanut butter
1/2 cup powdered milk (plus more if needed)