One sheet of plywood, 24 volt wheelchair transaxle, 35 amp scooter controller & twist throttle, fwd/rvs switch, #40 chain & 4 sprockets, channel stock or trac & screws, front wheels and idler, simplified spring loaded crab / bogey assembly.
Made this for my twins when they were three. A blast at car shows, parks, the wash out back. It was capable of three mph for three miles and could easily seat two kids while pulling a loaded wagon (they pulled my 200 pound butt around). It was roughly 1/4 scale and about $600 to build. Finding a junk transaxle is the hardest part, or add another $300 for a new one.