Depending on how crafty you want to get (although you're starting early, so that's a good sign!)...
You can find foam hearts in a bucket at craft stores like Michael's. The bucket I found had three sizes of hearts in several jewel-toned colors. If you put three same-color-and-size hearts together with their points facing in and their rounded ends facing out (overlapping slightly) and then take a smaller, different colored heart and lay over the points, they resemble a flower. I took a shish-ka-bob skewer and poked a hole down through the middle and put a lollipop in the center. I used the small dum-dums, but you could use the larger, Tootsie Roll kind. This is pretty economical, I didn't spend very much and had to make 40 some, between dd's preschool class and playgroup. They were a little unweildy, so I bought a package of the small cellophane gift bags to put each one in (20/$1).