Here is an educational kit that teaches your kids about animation. The Multi-Functional Movie Maker is an animation kit with a Zoetrope with a Phenakiscope and an adjustable LED strobe. It comes with 95 pieces and everything you need to customize your optical illusions.
This toy has 6 modes for you to take advantage of, including Inner/Outer Cylinder Zoetrope, Die Cut Zoetrope, and Phenakistoscope modes. Costs under $35 at this time.