You will need scrap fabric, scissors, bowls to hold the pieces, paper, and glue. It will also require you to cut out the pieces ahead of time so that the activity does take all day. Also, by having the pieces pre-cut, you can do this activity with children ages 2 and above.
Simply cut out body parts from fabric and place them in separate bowls (ears together, faces together, bodies together, tails together, feet together). Talk to your child about the different parts of a bunny rabbit. You can look at different pictures (cartoons and real) if your child is not sure if a rabbit has a tail or not. Then, have your child request the different body parts in order to "build" his/her bunny rabbit. He/she can glue the body parts together to form the rabbit on a piece of paper (or any other medium you choose).
If your child is old enough to understand the difference between patterns and solids, then you can have him/her describe the bunny. For the one pictured, the child could say, "My bunny has a solid peach face, a flowered body, and blue ears with flowers." If you have a lot of different fabrics within the same pattern (all stripes, all polka dots, etc), then you could create a striped bunny, a polka dotted bunny, etc. Use different fabrics, but all having the same basic pattern. This will make it harder to describe (the body has red stripes, but the ears have fat blue stripes), but also works on categorizing by choosing the same type fabrics.
If your child is working on listening comprehension, then ask your child to select a body part and see if your child can find it correctly. If your child is more advanced then ask for a specific body part in a specific pattern (i.e. find a striped ear).