Regard as fun for the children (5)
I believe the answer is:
treat
'regard' is the definition.
(thesaurus)
I don't understand the rest of the clue.
Can you help me to learn more?
(Other definitions for treat that I've seen before include "Source of gratification" , "Celebration" , "An indulgence; handle" , "Stand a drink" , "Pay for someone's food or drink or look after them medically" .)