I am sure there are oodles of tutorials out there for paper pom-poms but I have one for you anyway using the swath of painted newspaper I did up earlier. It's really easy and will give yer kiddos something to do between melty popsicles and fireworks. Here's how I did it.
Grab a sheet of painted up newspaper. One large piece is a good start. Cut or tear it in half and then in half again.
Fold each piece in half width-wise and cut up from open-edges almost to the fold every finger-width or so. The thinner the cuts, the pommier the poms.
Take two cut pieces for each pom and smoosh them into each other while still folded. Tuck into a painted or paper covered cardboard tube and staple or tape into place. You may wish to use a bit of double stick tape or glue here. A little shaking can shake all sorts of shakey paper loose. Next, fold tube in half length-wise and staple again to create a handle. If you wish, decorate the handle with stickers and other bits of fun.