Olive the rambunctious pup

Haha...Olive is just 11 weeks old and of course I don't expect her to act much different than what she is....jumping on my toddler, wanting to nip to try out her teeth...The question is, how do I correct it? Is it counterproductive to keep her separated from my toddler all day? Because right now she's just kind of dangerous with her sharp teeth going all the time. We have a little gated area where my toddler can go up to her and pet her but no way can I let Olive run around the house yet. I also have a 4 month old. I have this nagging feeling we could be responsible if she doesn't have a personality to be best friends with my little girls. How can I encourage the kind of behavior that leads to all those cute dog and baby napping photos?!

I don't have children so can't really say what is best, have a read of these though  

http://staffy-bull-terrier.com/how_to_stop_your_staffie_jumping_up

http://staffy-bull-terrier.com/stop_your_staffy_puppy_biting

i would say put olive on a lead/harness etc and let the kids play infront of her but dont let her to close to them so that she gets used to seeing the kids play but dosent have to get involved every few minutes let olive on a lead go an sniff the kids if she shows signs of jumping etc then pull her straight back and repeat process overtime olive will reslise that she can play but not rough or with teeth also a spray bottle with water works brilliantly for most dogs if she starts to play rough/teeth etc then spray her and tell her no in a sterne voice, this is what worked for me altho one of my staffs used to just let you spray her and she didnt care but thats staffs for ya hope this helps, altho at that age a staff is what i would call a child constantly on a sugar rush lol but it will get better