I stumbled on these cute tags designed by Amy Locurto over at www.livinglocurto.com. She provides them as a free download and are available in bold or pastel colors. (As a side note she has a lot of cute free downloads for every occasion; birthdays, baby, holidays etc. Its worth taking a peak.)
I printed mine on cardstock, cut them out and laminated them for greater durability. My five year old got super excited about this new routine. Amy said she and her son would make funny poses as they laid the clothes out the night before. Very cute!
Family Fun also has the same idea if you want to make your own. This would be fun for your older child to design and create her own out of felt. It may even give her a greater sense of ownership in the dressing process.