The recipe I used for the dough is;
1/2 cup salt
1 cup plain flour
Around 1/2 cup cold water, added a little at a time until the mix seemed right
1 tube red glitter
1 tiny blob of red gel colour - you should just add a small amount at a time and work it in to see what colour you get; gel colours go a long way from a tiny amount, but if you've got liquid colour just add a little at a time until it seems right.
If it's a bit wet, add more flour, if it's a bit crumbly, add more water!
Then just roll it out, play around, let the kids have fun, make the shapes and cut out the decorations you want to make, and then either leave it to dry (which can take 12 hours to three days or so, depending on how thick you rolled it out) or do what I did and pop it in the oven on a low heat; top tip, I warmed the oven up to gas mark 2 then turned it off and left them in the warm oven; an hour later I popped it back on to 2 for ten minutes, then off again. They were dry pretty quickly.
If you want to decorate them with your kids I recommend making the dough and shapes one day then decorating the next day, or even the day after, to make sure they're dry.
I've seen people suggest microwaving them to dry them, but when I tried they really puffed up and went weird and rubbery, so I'm not a fan of that method, but you might have more luck.
Some of ours went a bit paler in the oven, which might not have happened if left to air dry, but I quite like the way they look.
The snowmen are my favourite :-D
Enjoy your sparkly dough - I would love to see pictures of what your kids make!