Another good thing about the book I forgot to mention yesterday. It shows the pronunciation for every word. So its even easier to learn. If you really want to teach them, buy that book. You wont be disappointed. 

Yes it is possible. There are many books with English and Spanish with pictures. Both of my children speak and understand Spanish as well as English. They are 4 and 2. My husband is Hispanic but hasn't been with us for 4 years. When the kids and I visit overseas, he only speaks Spanish with them.  And I teach them at home with books. A good starter book that I used and still use is MY FIRST ENGLISH-SPANISH PICTURE DICTIONARY. You can find it at target for about $8. Its great that you want to teach them. They learn so much in their early years.

Here is a link if you would like to check it out.

http://www.target.com/gp/detail.html/602-9970887-6147856?asin=1412710863&afid=yahoosspplp_bmvd&lnm=1412710863|My_First_English-Spanish_Picture_Dictionary_:_Books&ref=tgt_adv_XSNG1060