1/4 C corn starch
1/4 C water
6-8 drops food coloring (it all depends on how dark you want the color)
I made blue, green and pink. You have to give it some good stirring....you've got to work it a bit to get the corn starch to dissolve. The blog where I found the recipe (and I need to start noting these things so I can give people credit....I'm really not trying to steal! I just don't always mark where the idea comes from and I don't always do it the same way) said to do 1/2 C each of starch and water....that would just make more. My amount was perfect for about 15-20 mins of painting for two girls.
It went on pretty thin and drippy and dried quickly. When it was dry it looked chalk-ish.
This would be great for a "messy party". It can be pretty doggone messy, but cleans up easily and is way fun! We used real paint brushes as well as foam brushes.