Children are imaginative, so they could play in the tree house for example and have a whole world in their heads. Meanwhile, the preteens could be growing out of that stage and maybe tease the younger for still believing in fairy tales.
Or a child could be soon aging up into a preteen maybe they're not ready to give up their childhood stuff. Maybe they're trying to figure out what it means to be a preteen themselves and have to deal with the peer pressure to grow up.
Or maybe the preteen has a specific goal or something they want to get and they go in this adventure with their friends to attain it. (Inspired by 8-Bit Christmas, which is a really fun kids movie.) Hope this helps!