The best type of clay for this project is polymer, or oven-bake, clay. I recommend this sculpt and bake kit. It is great for beginners and has tons of useful tools and colors. It also contains many eye pins  for making your sculpture hangable.
 https://www.amazon.com/dp/B07HQGP98D/ref=cm_sw_r_cp_apa_i_AmHIFbYBCEMC6

I have also used this smaller kit, and it is also excellent:
https://www.amazon.com/dp/B07WJ41L9Z/ref=cm_sw_r_cp_apa_i_loHIFb4A7W25F


You are welcome to use any clay you'd like, but the larger set is the set we'll be working with in class. 
Bake at 260-275° under a foil tent for 25-30 minutes. After the timer stops, turn off the oven and leave your creation inside for 20-30 minutes to prevent rapid cool down. When clay cools too fast, it can crack. 


Parchment paper to cover your workspace
Saran wrap
Zipper bags (I recommend snack bags)
Toothpicks


If you do are not buying the above set, you will also need these:
Clay - You may use white clay, but we will not be painting in class. I recommend pre-colored clay. 
Toothpicks
Sculpting tools (suggested but not required)
Child-safe knife or cutting tool

Other good brands of polymer clay include: Sculpey Premo, Sculpey Souflee, Fimo, and Kato. Sculpey III is ok to use, but it is quite brittle and fragile after baking. If your student plans on playing with his or her creation, I do not recommend Sculpey III.

Some fairy tales contain scary or violent content, e.g. Jack kills the Giant, The Big, Bad Wolf tries to eat other characters, Hansel and Gretel's witch tries to eat them, etc. Parental discretion is advised. 

Play dough may contain wheat, which could cause an allergic reaction if ingested in those sensitive to wheat gluten or with Celiac disease.
Parental supervision is highly recommended when students are using cutting tools.