For easy, safe fingerpaints, use whipped topping tinted with drink mix. They're safe even for babies to use (my son did this when he was in daycare and he wasn't 1 yet), but still messy enough to be appealing to small children.
Use construction paper or other heavier weight paper. A nice winter variation is to use plain whipped topping and dark blue paper. For Valentine's Day, use plain whipped topping and pink or red paper or tint the whipped topping with a red flavor and use white paper. For St. Patrick's Day, use lime drink mix.
I'm concerned about the additives in the whipped topping. This is a very small body, and, imho the fewer chemicals that go in early the better....how about yoghurt, which would give some nutrition as well? Babies do like sweetness, but the kool-aid or (hopefully a health-store alternative) would provide it. I am not a "health nut" but have known two people whose systems overloaded on the chemicals that they had put in their bodies over the years...actually, maybe it has turned me into a "health-nut" (enter smilie).