Chicken, when my kids were born I started putting $200/month for each one into a diversified equity mutual fund as soon as I got their social security number which took about 6 weeks to get after they were born.
By the time they reached college age they had enough to pay for their undergraduate tuition and room and board at LSU.
Fortunately, they also qualified for the TOPS scholarship which ended up covering their tuition plus a little for books and lab fees. So, they each had (have) a pretty nice fund still growing for them now.
This post was edited on 1/4 at 8:03 pm