One of the BEST french CDs for children is Soyons Amis, by Alain le Lait! He has 3 French CDs as well as a Spanish CD. His tunes are upbeat, catchy and fun for Mom and Dad to listen to also!
Here is a link to his website where you can listen to samples, print off the lyrics and purchase his CDs.
http://www.yadeeda.com/french.htm