Use regular construction paper. Let your child decorate the lantern with stickers, glitter glue, crayons, and pens. When using loose glitter, I put a cookie sheet under the sheet then let them spread washable glue over the paper with popsicle sticks. I let them pour their own glitter then we shake it out while still on the cookie sheet after its dried. I still have a never ending supply of rainbow glitter in my carpet, but I'm sure this helps!
The girls had a blast and we have them on our fireplace mantel. Enjoy!