Phil's right, my 4 year old son now has his own shiny silver card and baggage tags proudly proclaiming 'Master Pye Inthesky'!
I am still waiting for a chance to use it in anger with him though, in the past I've frequently been refused entry to the lounges with me as a gold and wife and son both blue on the basis of the one guest rule (only in the UK do they seem to enforce this rule when with a child BTW). The next time we are in economy and they say that when I bring out my card, I'll say oops, I forgot to show you these, and bring out the two silver cards