M.H.
My daughter had a BLAST at her third birthday party. There were 3 girls invited and we had a pony party right here at our house. She LOVED it. I did a scavenger hunt - her 6 year old cousin read the clues and they ran from place to place looking for the next clue - it ended with a special goody bag for all. We had pony races around an obstacle course - they had to put on an article of clothing at different spots and they made a music maker out of kitchen towel tubes, rice/beans and paper. A three year old doesn't remember much - but my daughter sure did remember this birthday and so did her little friends/cousins.
Once they hit school age, we have been dumped on with Chuck E. Cheese parties, bouncy house parties and Libby Lu parties....and that is all they want to do for a few years...so avoid as long as possible I say. Save some money and some hair strands - stay small for the 3rd year.
Positively,
M.