I have a 3 yo and a 1 yo and I CC with them regularly. I use a holster which is very comfortable and stays in place in awkward positions. A Crossbreed Supertuck, if you're curious.
Personally, I would not OC with kids this young unless I had a retention holster I trusted. Even then, I'm not sure I would. Kids are way too inquisitive at this age and have a knack for figuring things out when we don't want them to.
I also don't carry with one in the chamber with the kids around. That inquisitive thing again. I know, it slows the response time. However, I drill myself to get in the habit of racking the slide on the draw. Slow, frequent practice practice practice.
My wife doesn't mind. She knows I burn range time and practice.
Just my $0.02. Do with it what you will.