City said:If you give the child a password to the iPad2, he/she could possibly share it with someone, allowing the word to spread. In Settings, there is an option where you can hook up the iPad to the iTunes computer, so then you can track where it is from your computer, instead of having to download an app. Although, it'd be smart to download the app, for an alternate resource.
What You are describing is in fact the find my iPhone app.You download it to every iDevice you own and also to your authorized computer.You can't track the location of your iPad from your computer without the find my iPhone app.