2 words: HELL and YES!!
When I was a kid I was just like your kids, walking around with everything I could get my hands on (caught my first snake when I was 4.) I was lucky, growing up where there was nothing of danger. Now that I have my own kid and living in a place where there are venomous snakes, she is not allowed to do any of the stupid things I did when I was a kid. I do not care if it is a ringneck snake she finds in the garden, if she wants to hold/touch it she has to come get me first. She is not allowed to get any of the snakes out on her own and she is never left alone with any of the snakes when they are out.My kids are used to walking up to me with big wolf spiders, big centipedes, assasin bugs, humongous slugs, and wild snakes in-hand. They're not afraid of much wildlife.
Remember, SAFETY above all else.