Yes!! I do this. I get glow and LED items. I have found glow stuff in Target's dollar bins and at the Dollar Tree. I also get them on sale after Halloween at Target or Wal-whatever

As for the LED items (and some glow stuff), I order it at glowsource.com. This year I got LED necklaces, sticks, sunglasses and of course our favorite - glowcubes (glowing "ice" cubes)!!!
Just a warning on the glow stuff. It is non-toxic but they do have glass in them and if you break them a certain way, they will break through the plastic. So I opened up some glow sticks for my kids the first night of our trip last year and it exploded on me and my son. We were glowing from head to toe and it got in our EYES

It didn't do anything harmful. We washed everything off and by the end of the night we stopped glowing so much and even our clothes weren't permanently damaged (which surprised me). So from now on, I will activate the 'glow' sticks away from our faces, away from the children, and with a gentler touch! And I'll invest in the LED items more than the glow items! They last more than one night anyway