Malnutrition and micronutrient deficiencies remain major public health concerns among children aged 1–6 years, particularly in developing countries. Functional foods enriched with nutrient-dense and medicinal plant ingredients offer a promising strategy to address these deficiencies. This review explores the nutritional and potential health impact of cookies fortified with finger millet, ashwagandha, and mulethi (liquorice) in young children. Finger millet provides essential minerals such as calcium and iron, while ashwagandha and mulethi contribute bioactive compounds known for immunomodulatory and adaptogenic properties. The paper reviews available literature on the nutritional composition, functional benefits, safety considerations, and potential role of such fortified cookies in improving growth, immunity, and overall health in preschool children. The findings suggest that incorporating these ingredients in child-friendly food products may serve as a sustainable and culturally acceptable nutritional intervention.