I have done this project for 3 years now and I really like it...I also, somehow, always line this up with the Solar System unit the classroom teachers are working on. (what luck!)
Day One: Draw the rocket in pencil and outline with black oil pastel. I use the "ladibug" document camera for the step by step instruction.
Day Two: Paint the rocket with tempera paint. Discuss 'complementary color schemes'....we used blue and orange, although some other colors snuck in. (which turned out beautifully)
Day Three: Cut out the rocket. Paint explosion on background paper. Glue rocket to paper. Voila! Awesome rocket ships!
Brain Pop has a "Space Shuttle" video and one about Sally Ride...but after watching them with one class, they are a little bit over a 1st grader's head. However, they're there....always a good resource.