Thank you everyone for the replies and helpful information.
I did make the toy today and it came out quite cute. I've already hung it in their cage and even blogged about it on my craft blog. So far, they have only looked at the toy and not chewed or played with it. I think I will make the same thing with the natural craft sticks and hang it instead of the colored one. I appreciate all the helpful information I am getting here at Talk Budgies!