When I was born, 46 years ago, they thought my pupils were shaped like roses. They wondered if it would affect my vision. Up until a few years ago I had perfect vision, but now I can't see as clearly up close. That, however, is normal for my age.
I would venture to say that your children will not be bothered by the phenomenon. It certainly had no detrimental effect on my vision.
Best case it can just be normal. In infants pupils are tiny and when constricted develop "pleats" or "bunches up".
If tear drop or key hole shaped could represent malformation caused iris coloboma
JCHMD