I took my kids there about 3 yrs ago (or more) my kids seemed to enjoy it. My son wasn't as young as your kids at the time, however he did like it. There's a water park there as well - and I would recommend taking a 'dip' on a hot day.
There's also the animal 'zoo' where you can feed the animals and pet them.
If I recall correctly, there's an area where you can also feed the lorikeets - you have to pay for the nectar juice they eat - but it was fun to go into the cage area and have them fly to you and feed them.
Gatorland has a website if you'd like more information:
www.gatorland.com (there's also a coupon available on their site - under park hours and prices)
I also found tickets on ebay for cheaper - not sure if there's any on there now - but I'm sure you and your family will have a great time there!
PS.. I just checked ebay - there are buy one get one free coupons for admission on there.. that may help you out in the long run!! Save some $$
Have a great time!