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I think Sea World is a great place to take a toddler! We actually just went there this weekend, and my 19-month-old had a blast! She was old enough to ride a few rides, and she LOVED all of the shows and animals. :-) Plus, the ticket prices really are pretty reasonable.
We're going to take our almost 3 year old to Busch Gardens. They have lots of animals (which she loves) and a Sesame Street part. I've never seen that part, but she loves Sesame Street too.
Plus, Busch Gardens (and I think Sea World) has a program where you can sign your kid up (under 5 years old I think) to get in free. To top it off, if you spend like $10 more per ticket at BG, you can get in the rest of the year for free. We certainly won't go all the time, but I bet we go a few times between now and December!