The song thaew almost topples over such is the speed and swerve.
The children came from three area schools - Kabin Withaya, Jiamin School and Ruksasap School in Prachinburi.
Following the incident on Wednesday the local Department of Land Transport fined the driver Beng, 51, 5,000 baht and suspended him from driving for 30 days.
Beng apologised to reporters and society at large. He said the light was green then changed to amber and red as he passed. He tried to get through but it proved beyond his capabilities.
Meanwhile other song thaews of a similar kind picking up children in the area were all slapped with 1,000 baht fines for using the wrong kind of vehicles.
Drivers complained they were being made scapegoats because one man drove like a maniac.
Beng's vehicle has been permanently retired, with the words "Haam Chai" (use forbidden) now indelibly written on the front.