I'd probly pick Where the Sidewalk Ends by Shel Silverstein..... for the children. Most is picking classics, I'll take up a childrens book for the sake of getting the next generations involved in literature.
I think I'd go for a children's book, too. Maybe The Secret Garden, by Frances Hodgson Burnett. Or the Narnia series - that would be easy as I probably know them almost off by heart anyway (fave books as a child).