Another mixed media project we did with two year olds.  One day we let them use plastic netting and a couple colors of light blue paint on blue paper.  The next day they glued on pieces to make an under water scene featuring a "jelly fish".  The jelly fish is leftover laminator trimming with white tissue under it and shiny ribbons.  They could also add little scrapbooking fish cutouts and tissue paper strips to make the seaweed.