The pair has designed a bag, T-shirt and notebook which will be sold through Smith's website, with profits going towards the annual Bbc fundraising drive.
The Take That star says, "Bbc Children in Need is a cause close to my heart and for each campaign we think up new ideas to top those from years before.
"As one of Britain's most successful designers, Paul Smith was a stand-out choice for the project and I'm thrilled that he agreed to do this without hesitation, helping to support young people across the U.K."
Smith adds, "It's absolutely brilliant to contribute to this fantastic cause. We hope you like the range, please buy them and support the great work the charity does!"
The Children in Need telethon will take place on 15 November (13) and raises money for needy youngsters across the U.K.