There are plenty of ways to personalize the basic treasure hunt. Some adjustments are logistical. You want all of your partygoers to feel involved and rewarded, so party size is a variable to consider. You'll want a copy of the clue for each child, if they're all working separately. If you're dividing them into teams, have one clue for each team. You could make a rule about rotating which hunter does the reading at each clue.
Think about age, too: For young hunters, maintaining interest can be tricky, so you might want to hide a little prize at each clue location to keep them excited.
Other adjustments are purely for fun. If your party has a theme, why not run it through the treasure hunt, too? A pirate theme is the most natural – eye patches for each hunter, clues with burnt edges, and a pirate-style treasure chest.
But other themes can work. For a fairy party, give each hunter a wand, sprinkle clues with glitter, and hide a bunch of wearable fairy wings as the treasure. They can wear them for the rest of the party and then take them home as party favors.
Hiding a map piece with each clue is fun, too. Each piece fits into a puzzle that turns into a finished map at the end, showing the location of the treasure.
To start off your hunt, gather the whole group together. You can weave a short story about pirates setting off to find buried treasure, for instance, or just straightforwardly announce that you're having a treasure hunt and explain how the game will work. Let the kids know there's a special prize at the end (or prizes for coming first, second and third). Then read off the first clue and let them go.