OUIL601 - Ideas for practical stuff

I bought some shrinky dink paper off Amazon and tried out making some badges, I think they turned out well, if a little small, so I want to try this again and probably try and incorporate it into my project somehow.
I think that I want to create a range, maybe of toys, or stationary, that can be marketed towards children.

I think the success of my last COP project spurred me on to want to create a second children's book, and I think the context would go well with my subject and the narrative that I want to convey.

There's plenty of children's books that have a range of merchandise that come along with them, obviously because it would make the kid want to buy it.
The Very Hungry Catterpillar is a good example of this.

The book itself and the caterpillar is extremely recognisable, so it can be applied to pretty much anything and still be relevant.

If I have time after finishing my book I'd like to create a range of merchandise using a character from the book.