My 7 yr old dd loved the penny pressing!! I brought quarters and pennies in mini m&m containers (layer 2 quarters & a penny, 2q&p etc so it is easy to do when you find the machines). You can buy the pressed penny books at any gift shop at WDW for about $7. They have them in all the parks and it was especially fun going to all the countries in Epcot.
The barber shop in MK was a HUGE hit, surprisingly considering I dropped $50 on BBB & she liked the BS waaay more. She got the colors and confetti & it was $7 plus a tip. Super fun & she got compliments everywhere we went.
You can buy a passport to go around the countries at Epcot for about $10. It looks like a real passport and you get it stamped in each country and the CM writes a welcome message in their native language. It also comes with stickers that the child puts into the book. This was a fun activity and my dd shared it with her class when we got back.
On one of her earliest trips we purchased one of the inexpensive "silver" charm bracelets they sell in the gift shops. We buy charms that are significant to her life...ie: every year she is a princess for Halloween so we buy the charm of that princess, we get the charm of the different resorts that we have stayed at, her birthstone mickey ears etc. We add a charm on each trip. She loves looking at it and can tell you the meaning behind each charm. I am of course LOL too paranoid to let her wear it, so we bought another bracelet on our last trip with a few fun charms that she can wear. At 7 I am too worried that it would be lost and I want it to be a keepsake for her to have always.
My personal favorite was to have her keep a journal. Each day we would take downtime and she would write what her favorite part of her day was along with an illustration. I just came across her journal from her trip when she was in Kindergarten (2yrs ago) and it was so awesome to see the growth in her handwriting, drawing and spelling, but also to see how her interests have changed. It will make a great keepsake for years to come. We used a marble notebook from
WalMart that had a top part for drawing and then lines underneath for the written part.