This was our 2nd birthday's present to the daughter. It was slightly too big at the time, but did fit fine after a couple of months (with the saddle lowered to the minimum). She's loving it and it's impressive how fast she's learning!
It's not cheap, but excellent quality. Will last quite a few kids for sure. The elastomer suspension + the "real" schwalbe tires are effective, she can now ride down little drops (5 inches or so) without problems. Come with a front brake, but I would like to wait as much as possible to install it.
Of course then I went crazy and installed a carbon bar that I fortunately didn't throw away after discovering a crack (with the broken end cut away). Stem donated by a super friendly salonistas!