I believe for most children the four stages of punishment as prescribed by Manu would be sufficient for most minor crimes.

129. Let him punish first by (gentle) admonition, afterwards by (harsh) reproof, thirdly by a fine, after that by corporal chastisement.

130. But when he cannot restrain such (offenders) even by corporal punishment, then let him apply to them even all the four (modes cojointly).

However children who do violent adult crimes like molestation, attempted rape and rape and premeditated violent assault and murder deserve to be punished just like adults.

Even children who do violent crimes like vandalism and throwing stones or other things at moving vehicles, buildings and people must also be punished with caning/whipping after the first warning of harsh reproof and community service of 10 hours.