I bought a set of watercolor paints from the dollar store for each girl. This worked out well in two ways, because the girls could paint during the party for an activity, and they could take the paints home as a party favor. I printed out Rapunzel coloring pages online (just search Rapunzel coloring page in Google and you’ll find a bunch to choose from). The I set out a plain paper cup with water at each child’s place, and they were ready to paint!
I found a really cute printable online that I glued to each set of paints that really made the whole thing more polished. You can find the printable here: http://www.supermommoments.com/wp-content/uploads/2011/01/RapunzelPaintPartyFavorPrintableLabels.pdf