These look to us like Red Wasps, Polistes carolina. Wasps in the genus Polistes are known as Paper Wasps and though they are not aggressive, they can sting if their nest is disturbed. Paper Wasps chew wood pulp into a material used to build the nest. We suspect they are attracted to the exposed wood beneath the peeling paint on your roof. It is possible that the nest is in the eaves of the house since BugGuide indicates: “This species may prefer to nest in very sheltered locations, such as hollow trees–this should be investigated.” A similar species with the same range is Polistes perplexus, also pictured on BugGuide. In our opinion, these Red Wasps pose no threat to your small child, but the wasps will protect their nest.