Is there an app available that would enable me to lock or hide other apps so that the kids can't open everything up and maybe change settings. I know the obvious answer is to deny access completely, but I don't really want to do that.
There is a new feature of iOS 6 that may be of help to you, it's called guided access and can restrict access so that only a selected app is usable. Here's the thread that talks about it. http://www.ipadforums.net/ios-6/90787-using-guided-access.html
That seems like an interesting feature, but it sounds like all you are doing is restricting access to just the currently open app. What I want to do is restrict access to several apps whilst leaving full access to other apps.