I came across this website on how to add an adjustable waistband to kids pants like jeans. This is going to really come in handy since my 4 year old fits into size 6 pants tall wise, but not quite waist wise. I can't wait to try it!
http://www.kundhi.com/blog/2009/11/24/how-to-add-adjustable-elastic-to-kids-pants-in-5-easy-steps/