I got this idea from another mom who I meet last week at sewing class. So, I did what she did....I went online in search of free sewing patterns.
Thanks to http://sewing.craftgossip.com/tutorial-make-a-child-sized-toolbelt/2010/02/23/
I made this little tool belt for B in 30 minutes.

The front has three pockets for his little tools and the side loop is for his hammer.
I tweaked the pattern a bit so there wouldn't be any stitches on the front except for the pockets.

I went to Target today and purchased a little tool set.

Awesomeness!!!!