My youngest daughter's birthday is also in February, so it has been a challenge to find create birthday venues for her, rather than my two older children's birthdays that are in June. For my daughter's third birthday, we took a trip to Disneyland for the weekend as her birthday present/party. We bought her a little cupcake with a candle, and Cinderella and she took a picture while blowing it out.
If this idea is out of the question, and you would rather have a group party, we have also had a Toys R' Us party, and they do everything for you. One thing I would suggest if you go this route is to not have the party on a Saturday afternoon. I did this and not only was it very hot and stuffy in the room with 20+ children, but it was utter chaos with the children from the store. I went to a separate party for my child's friend on a Saturday evening at the same Toys R' Us, and it was very fun and there were no store children trying to raid the party.
Another party that we have had was at the Build-A-Bear store at the Arden Fair Mall. We had this party on a Saturday at 11:00 (so there wouldn't be too many people in the mall), and all the children loved that they were able to dress-up and personalize their own stuffed animal that also served as their party favor. However, there is no food allowed in the store, so we had lunch and cake at Johnny Rockets that is right around the corner.
It is kind of "hit and miss" when it comes to parties. Some are really good, and others will not be worth the money spent on them and it might have been better to just have a private family party at home. It just depends on all circumstances of the day, and no one will be the wiser if you handle the problems that arise with a smile.