Maybe I'm wrong, but I think for a youth's first knife you need to take in the "cool factor". They'll take care of something that looks cool and be proud to have it. Steel, grind, etc aren't going to mean as much to them IMO - those preferences come with experience.
The kid in me thinks the 2 Bucks that 
@rds1865 and the KOA Badger that 
@sndmn11 posted look cool.
I still remember looking at my grandpas 110 when I was a kid. He got me one of those keychain size swiss army knives as my first knife - which I still have. Once I got a little older he got me a 110, and when he passed my uncle gave me grandpas 110.