Here's mine (I usually put food coloring in mine, but you could substitute with all natural dyes, like these
, or omit altogether).
1 C. flour
1 C. water
1 T. oil
1 T. alum (cheaper if you buy in bulk; I find mine at Frontier Co-op)
1/2 C. salt
Mix together all the dry ingredients in a medium saucepan. Add oil and water. Cook this on medium heat, stirring constantly, until it reaches the consistency of mashed potatoes. Turn off heat, allow to cool until you can handle it. Knead it lightly on a floured surface, adding a little flour until not sticky, but pliable. Work color into dough by kneading. For fun, you could also knead in some essential oils, like peppermint or lemon, if you desire.
This is my all-time favorite dough recipe, and it keeps well in a sealed container/baggie even out of the fridge (because of the alum). It will keep for several weeks if stored in the fridge. I often double or even quadruple this recipe if we need extra for guests. I've made it for a child's gift and it was well-received.