Exposure to toxic metals such as lead (Pb) and cadmium (Cd) from foods is a concern for young children. The aims of the study were to analyse the levels of Pb and Cd in breakfast cereals, rice products and diets of selected children, and to estimate the daily intakes of Pb and Cd in these children. The samples (n = 82) of ready-to-eat breakfast cereals and rice products (n = 36) were collected and obtained from various markets in Brisbane, Australia. The samples for a duplicate diet study were collected for 3 consecutive days from normal healthy children (n = 15). The analysis was performed using ICP-MS after microwave digestion. The levels of Pb and Cd found in breakfast cereals and rice products ranged from <0.01 to 0.25 mg/kg for Pb and <0.01 to 0.11 mg/kg for Cd. The estimated daily intakes of Pb and Cd in children varied widely and ranged from 0.90 to 11.7 (5.6 ± 3.5 μg/day) for Pb and 0.98 to 9.5 (4.0 ± 2.2 μg/day) for Cd. The study shows low intakes of Pb and Cd in children.