One activity you might want to consider is to color the templates with markers.  I know this is simplistic compared to some of the other projects, but a nice easy one every so often is a good break (especially for those of us who have to clean up the mess after the project is done *grin*)

• Print the template and color in the M m.  Point out to the child which is the capital M and which is the lowercase.
    
• Color the M and the m with markers.
    
• Point out that marker starts with m
        

• Whenever I do these projects with Kaitlyn, I get to draw pictures of words that start with the letter and then she gets to color them.  Don't stress about your drawing skills... the kids will love watching you draw!  Letter M words I drew were a picture of a mailbox, mom, moon, magic hat and wand, mouse and mushroom.