I have stuck to four basic emotions for my 25 month old: sad, happy, angry, and scared. We sometimes make different faces in the mirror, and then use them in real life. Like if she throws a tantrum I'll say, "Abi is angry." Or if she gets hurt I'll say "Abi is sad." It really seems to help when I validate her feelings, and most of the time she'll get over the bad moment sooner. I also point out characters in her books, what their emotions are. And once in awhile (although I don't know how well she understands this yet) I'll tell her my emotions. Like when she kept kicking me in the face during a diaper change, I said very strongly, "Mommy is very angry! No kicking Mommy!" I could see the little wheels turning.
7yo: "Mom,I know which man is on a quarter and which on is on a nickel. They both have ponytails, but one man has a collar and the other man is naked. The naked man was our first president."