Kids are always crazy about the latest gadgets, tablets, smartphones, gaming consoles and all sorts of devices, but for many parents these are costly things that should not go into the hands of a child.

Fortunately, instead of buying an expensive $500 device that will only end up getting smothered in juice or jelly, parents now have the option of buying a Child Pad for their kid.

Kicking off March to a great start, Archos announced the Child Pad, a 7-inch tablet running on Android 4.0 Ice Cream Sandwich, with a price tag of only $129. The tablet is designed to “offer hours of entertainment for all ages, especially kids,” states Archos founder and CEO Henri Crohas.

The Child Pad will come with a 7-inch color display, 1 GB of RAM and a 1GHz processor, featuring pre-loaded games such as Angry Birds, Flight Frenzy or Pig Rush. In addition, the device will sport a bright, kid-friendly user interface, with colorful icons and folders on the home screen.

Because it is kid-oriented, the Child Pad will not provide access to Google’s Android Market, but it will connect to AppsLib’s Kids App Store, which offers 10,000 titles within 14 app categories such as books, games, comics, sports apps and other such apps suitable for children. Moreover, the Child Pad will include strong parental controls provided by Editions Profil, the same company that created Parental Filter.

According to Archos, the Child Pad complies with both CIPA and COPPA regulations, bringing more peace of mind to concerned parents. The tablet may not be the cheapest gift for a kid, but it does go easier on your wallet than other tablets available on the market.