First you must watch watch watch until puppy learns that kids toys are not his toys. Its the same as human shoes or anything else. The best solution is to keep kids toys up as best as possible for a while. That's never perfect but it minimizes the damage and danger to puppy who can get an intestional blockage from eating non dog toys. This can be fatal if not treated.
I use the distract, redirect, reward method. Since I don't have kids I used my own "test shoes" and watched. When puppy went for the shoes I would use a soft eh-eh and then get a great toy favorite like a squeaky or kong with some food inside and squeak or rattle. When puppy comes to get the more fun toy YAY GOOD PUPPY.
The best thing to do is make puppy's toys very unlike human toys or possessions. For example people that give their dogs old shoes to chew on are just asking for their new ones to get chomped. Dogs don't know old nike's from new Prada. So maybe if your kids have lots of plastic toys get the dog rope or pelt toys, fire hose toys, canvas bumpers, kongs with food, food puzzles.
Just like with potty training. A watched puppy doesn't potty in the house, neither does he eat things he should not. Get a a couple of crates and/or some doggie gates and crate him near where you are when you can't watch, gate him into the room with you, or tether him to you with a waist leash.
It will be a lot of extra work for a while but the result will be a great family dog.
Raising the Great Family Dog | Karen Pryor Clickertraining raising a great family dog