Totally! But would you do a paper wallet? Create a 12 word seed phrase and give them that?
Discussion
Children, imo, have brighter ideas than adults. You may have to school them about how it's done, and they might come up with better ideas of protecting their own trust fund. This early, you'll be giving them a responsibility. Idle minds light up when they're given responsibility. Tell them it's more precious than money in the bank. Children remember important things when they are told only once