Each child gets the baby a small gift. Now I cheat with this one, because there are so many little things you need to get and stock up on, especially if it's not your first and you aren't having a shower to stock up on stuff, I just get the things I would normally buy (ie. bottles, socks, onesies, washcloths, etc.) and let each child choose an item and wrap it. There is something magical about giving a gift...they love it. We exchange these gifts right at the hospital when they all meet each other for the first time.
Baby gets each sibling a small gift. Coloring books, small toys, dollar store stuff...as long as it's wrapped, it works :)
Buy a baby. This works really good for toddler and younger preschooler siblings who don't really get how much their world is about to change. Buy a little baby doll a bit before the baby comes, and use it to teach about how to hold the baby, how to be soft with the baby, how to change the diaper, etc. I don't know if I can give credit to the doll, or if I have just been lucky, but knock on wood, I haven't yet had a problem with the kids being too rough with the new baby. They wait to get rough for at least a couple of months when the baby is big enough to defend him/herself ;)
A Nursing Basket. I got this idea from a friend so long ago, I can't remember for sure which friend it was. But if it was your idea, you know who you are...cuz I don't ;) Get a small basket and fill it with stickers, easy games you can play with one hand or less, a special coloring book/crayons, special toys, etc. This special basket can only be played with when you are nursing the baby, so instead of the younger kids feeling put out and neglected because you are occupied frequently throughout the day, they get excited to play with what's in the basket. I typically only do this for the first couple of months...they figure things out and slowly ween themselves from needing the constant attention during that time. Good stuff.
Make parent/adult time for the other kids in those first few days. My husband is the one that manages this after our kids are born. He brings children's books to the hospital and not only reads to the new baby, but reads to the kids as well. He also makes sure to take the kids to do something fun before I come home from the hospital with the baby. If you aren't in a situation where you can do this, solicit the help of relatives or neighbors to take your kids to the park, $5 pizza, anything where the focus can be on them rather than just the baby.
