Let \( x_1, x_2, x_3, x_4 \) be the number of children selecting type 1, type 2, type 3 and type 4 bananas respectively.
Since total children are 12,
\[
x_1 + x_2 + x_3 + x_4 = 12
\]
Step 1: Apply condition of at least one from each type.
Given that at least one banana of each type is selected,
\[
x_1 \ge 1,\; x_2 \ge 1,\; x_3 \ge 1,\; x_4 \ge 1
\]
Let
\[
y_i = x_i - 1
\]
Then
\[
y_1 + y_2 + y_3 + y_4 = 12 - 4
\]
\[
= 8
\]
where
\[
y_i \ge 0
\]
Step 2: Use Stars and Bars formula.
The number of non-negative integer solutions of
\[
y_1 + y_2 + y_3 + y_4 = 8
\]
is
\[
\binom{8+4-1}{4-1}
\]
\[
= \binom{11}{3}
\]
Step 3: Calculate the value.
\[
\binom{11}{3} = \frac{11 \times 10 \times 9}{3 \times 2 \times 1}
\]
\[
= 165
\]
Final Answer:
\[
\boxed{165}
\]