It's certainly not too hard to understand everything there is to understand about the algebraic closure of Fp. Perhaps the reason this is unsatisfying as an example for founding intuition is because it doesn't really have a nice topological structure; it lacks anything like a natural metric. So here's an attempt to explain why what is in some sense the next simplest example puts you in a better situation, intuition-wise.
If you have some intuition about the p-adic numbers look and feel (for example, topologically), then you secretly have intuition for the t-adic topology on the complete local field K=Fp((1/t)). Now, as far as characteristic p fields go, this sort of puts you in the position of (in your parlance) a "preschooler" who knows about R but hasn't yet gotten to kindergarten to learn about C. Why is K like R? First, it is locally compact. Second, it is at least analogous to completing Fp(t), which is very much like Q with Fp[t] as the analogue of Z, at an "infinite" valuation, namely the degree or (1/t)-adic valuation, rather than a "finite" place like a prime polynomial in Fp[t]. (The (1/t)-adic valuation corresponds to the point at infinity on the projective line over F_p. Likewise, number theorists love to say, perhaps partly to annoy John Conway, that the real and complex absolute values on Q correspond to "archimedean primes" or "primes dividing infinity". This is actually a pretty lame analogy, though, since K=Fp((1/t)) looks a lot more like Fp((t)), say, than R or C looks like Q2.)
Unfortunately there are two extra difficulties in the characteristic p case. First, upon passing to the algebraic closure L of K we lose completeness. Second, we make an infinite field extension, unlike the degree 2 extension C/R. Thus, while L is an algebraically closed field of characteristic p, it bears little resemblance to R. In fact, it's a lot more like an algebraically closed field of characteristic 0 that is a bit scarier (at least to me) than C, namely Cp, or what you get when you complete the algebraic closure of Qp with respect to the topology coming from the unique extension of the p-adic valuation.
While this may seem bad, I think it's actually good, because one can really get a handle on some of the properties of Cp. [Note that as another answerer pointed out, Cp = C as a field, but not as a topological or valued field, which is really a more interesting structure to consider from the viewpoint of intuition anyway.]
For example of some similarities, miraculously Cp turns out to still be algebraically closed, and I believe the same proof goes through for L above. Another property L and Cp share is that in addition to "geometric" field extensions K'/K obtained by considering function fields of plane curves over Fp, there are also "stupider" extensions coming from extending the coefficient field. This is like passing to unramified extensions of p-adic fields, where one ramps up the residue field. (In fact, it's exactly the same thing.) Both L and Cp are complete valued fields with residue field the algebraic closure of Fp. (But the valuation is NOT discrete; it takes values in Q.) There are some dangerous bends to watch out for topologically, however. Some cursory googling tells me that Cp is not locally compact, although it is topologically separable.
In addition, positive characteristic inevitably brings along the problem of inseparable field extensions sitting side L. This is, of course, an aspect where L/K is unlike Cp/Qp. Notwithstanding such annoyances, I would argue that the picture sketched above actually does give an example of an algebraically closed field of characteristic p for which it is possible to have some real intuition.
