It's the easiest stuff in the world to make, and you probably have most of it in your pantry already. Plus it's pretty safe if you have a little one that likes to snack on play-dough.
2 cups flour, any kind will do
2 cups warm water
1 cup salt
1 TBS cream of tartar (for elasticity)
2 TBS vegetable oil
food coloring - I used the liquid kind you use for Easter eggs
fragrant essential oils - totally optional
Mix all of the ingredients except for food coloring & oils o LOW in a pot on the stovetop. Stir gently. It will start to thicken up pretty quickly. When the dough pulls away from the sides of the pot and starts to clump up, you're on the right track. Stir until you reach the desired consistency and it isn't so sticky.
Turn out the hot dough onto a clean surface or mat and let it cool for about 2 minutes, or until it's cool enough to knead. Knead the dough a few minutes until smooth, then divide it up into balls. Make a hole or indentation in the dough ball and drop in a few drops of the food coloring. Fold the dough over and start working in the dye - be careful to not touch the actual liquid dye until it works in a bit or you'll have technicolor hands! Keep adding color until you get the color you want.
Store it in an airtight container. If it dries out a bit, just knead in a few drops of warm water to soften it up. If it gets soggy, just re-heat it a bit and it will firm up.
You can also bake it in the oven to make hardened ornaments and sculpture figures. You can paint them & decorate them too!
Or just use your new play-dough as a disguise to get into fool your friends, rob a bank, or get into the hottest night club.