The only thing we could think of to do with a lowercase y was to make it yellow and add yarn.
Materials: one sheet of yellow paper, one sheet of white paper, yellow yarn, paste, and glue.
I cut the y out of the white paper and the littles pasted it to their yellow paper.
I helped them get a thick layer of glue on the y without getting too much on the yellow paper and then they went to town adding the yellow yarn.
It was fast, easy, and a whole lot of fun.