So this is what I do, a couple mornings a week, with eight two and three year olds. A friend is letting us use two (tiny) rooms at the back of her place. They are great because they have their own entrance, and an outside play area, and also a loo and sink (ahem-- these are toddlers). They are just small. The main room has the toys and books and is where we attempt to play on rainy days. The back room has just enough space for the table and chairs and a cupboard for arts and crafts supplies. I don't know how interested any of you are in this, but I thought I would show you what we have and use. I really love this space, and the other mothers have been great in letting me do exactly what I please :)
1.
This is the kitchen area, directly on your right as you enter the room. Sees plenty of use, although the dolls to the right are largely ignored. The cupboard under the unit is stocked with wooden food and enamel tea paraphenalia.
2.
We love books. Whenever my kids pretend to be "Ms Katurah" at home, it generally means reading stories and passing out play dough. Heh heh. We start and end each day with stories (one they choose, one on our theme), songs and fingerplays.
Our found treasures are lined up on top of the book case, and the pillows in the corner are dragged out and arranged for circle times.
3.
The TOYS! If you are actually interested, keep reading. Otherwise scroll down. From left to right, top to bottom:
A wire helicopter, suitcases that hold magnetic marbles and wooden lacing beads, simple wooden puzzles.
Musical instruments (Bella has temporarily run off with the tambourines), vinyl animals, tissue (hey, let's be accurate here).
A tractor, shape/size/colour sorting tray, stacking ring, shape and colour sorting pegs, elephants with numbers on them (that one a parent brought in).
Two baskets of blocks (some locally made, and some fabulous Haba ones), wooden cars and a wagon of... more blocks. We like blocks.
In the left of the picture you can see the door into the art room. Okay, the table room. That's pretty much it in there.
All right, there's this, too:
4. 
Arts and crafts supplies, and other miscellany. I am not listing all the pom poms and what not. Although I will mention the kids have a deep and abiding love of glue sticks. So: craft supplies. Also, first aid, tools I need (scissors, glue tack, etc) and snack supplies. Everyone has their own cup and bowl. I keep games here, and the play dough with rollers, hammers (ha!) and cutters. For art I keep loose paper, coloured scrapbook cardstock, crayons, and lots of paint! We've got high quality primary coloured watercolours and paper, finger paint, acrylic paints and poster paints. I almost never use poster paint. It's just unsatisfying. But I inherited it, so we try it now and then. Watercolours and fingerpainting far prefered, however. Also, each child has a Waldorf exercise book.
5.
Back in the mainroom, opposite the books is the dress up. Actually we could bung the whole lot out and just keep that giant basket of scarves. Oh well.
6.
The car garage! Used as a jumping off point for intricate cities of block houses and wild roadways. Their first co-operative play...
And the balls and sidewalk chalk. You need those.
Not pictured are a set of giant rubbermaid containers, bubblebath, small cloths, measuring cups and small buckets for those days when everyone is hot and bothered. So much mileage. I also got them a wiggly sprinkler attachment, but we haven't tested that out yet.
Yes. So that's my little preschool. We keep it small and low key. I choose themes for each week, planning books and core activities accordingly. I make sure we cover: language, movement/dance, gross and fine motor skills, art, craft, science, nature and math. I also try to make sure they are aware of appropriate behaviour and language. That sounds silly, but I'm shocked by how reticent some people are to bring it up. The other mums rotate through as helpers once a week, and drop off our snacks. Oh, and I bring my iPod round for music.
It has been such a great little school for all of these kids. And I rather enjoy it, too. Feel free to ask me questions if you have any.