At 5, my oldest daughter was still very into dressing up, princesses, tea parties.... So we tried to combine all that into her party. We invited 8 of her preschool girl friends to our house for a "Dress Up Tea Party". I asked everyone to bring their favorite dress-up outfit if they wanted, plus I had all of ours hanging out for the girls to play with. I also had her little vanity set up with lip gloss and brushes so they could have fun primping themselves. For a craft, I bought some foam princess crowns (about $1 a piece at Michaels) and had foam and rhinestone stickers to decorate them with. Then for a game we played "Pass the Purse". It's basically like Hot Potato. Everyone sits in a circle and passes a purse along to music. But when the music stops, whoever is holding the purse gets to open the purse and pick out a treat. I used fun necklaces and made sure everyone got one by the time the game was over. After all the playtime, I served the girls lunch (simple chicken nuggets, pretzels, fruit, etc.) I decorated my dining room table with a pink table cloth, pink plates.... very girly... and found some cute plastic pink tea cups at the party store for them to drink out of and take home with them. I did give an additional favor of a Barbie Fun Pad, but I think just the crowns, necklaces and cups would be plenty if you're watching your budget. Overall, it went really well, the girls all had fun and my daughter felt like a true princess! Hope that gives you some help.