I am ready to add the binding on a childs quilt, what is the best way to do it on the bias?

If you type in binding in search you will get a full page of topics.

There are lots of ways to do the binding, depends on what technique you like best. There was a thread on this recently that you will find with the search.

Any reason you need bias binding?

Here's a link to some tutorials:

http://www.quiltingboard.com/t-62769-2.htm#1533707

I LOVE continuous bias binding and use it almost exclusively. The other binding I use for kid quilts is self-binding. Continuous bias binding will give an effective twisting look if you use stipey fabric and is dead simple to do. No fussing with cutting strips and sewing - two seams and cut the binding. I don't even press mine, just match the edges as I sew it on.

Use "continuous bias binding" as a search term and you will find instructions. I have a printed copy and don't venture one step without them even though I've done several bindings.

Once you have your binding made, here's a great video on how to attach it to the quilt so there are no visible joins. Easy!
http://www.youtube.com/watch?v=1daucbSCVuw

Unless it's bias for design reasons, straight grain bias is easier to attach. Bias can sometimes stretch and twist if you're not careful.

Here is a link how to use one fat qtr and make it into 5 yards of bias. http://jonag.typepad.com/stop_starin...o-5-yards.html