I've got one of these I can part with for something reasonable: Kershaw Crown 3160 - wood grain micarta (now they are smoother)
That's another one that a bit high-end for a child.
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Cold Steel Mini-Pal with this style of snap sheath (Japan) (not legal Canada/UK?):
A punch knife? I don't think that would be a good idea.
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Wow. Just, wow. Were's the valve for the kitchen sink?
That thing has got to be huge, although My son would just love to have a Swiss army knife with more gagets on it than my leatherman tool.
I have the Swiss Army Cybertool 41, and lemme tell you, it is the best $130 I spent on ANYTHING, EVER. I use it multiple times per day, every day. I also have the Victorinox SwissTool (basic $115 model) that has seen some rough and tough service and still looks and feels like a million bucks. Great quality and craftsmanship. This reminds me, i need to order some replacement screwdriver bits for my Cybertool...lost my Torx10 bit.
the biggest one they seem to sell now is the 34, but still a great tool. If someone's offering up a CyberTool or SwissChamp for a reasonable price, grab it! Amazing quality.
