Child: I am Papa's child. I am Mama's child.
Mama: Oh, so you are both of our child?
Is Mama's reply correct?
I want to use "both of" in my reply. How should I form the sentence if the above sentence is wrong?
Child: I am Papa's child. I am Mama's child.
Mama: Oh, so you are both of our child?
Both X or both of X means two/a pair of X together. There is one child, so both can't be used this way to refer to the child (keep reading, though).
There are two parents, which form a pair, so you want to use both referring to them. This is likely what you are looking for:
Mama: Oh, so you are the child of both of us?
or
Mama: Oh, so you are the child of us both?
Now, if the parents were responding to the child with a joke or sarcastic retort, then Mama might say:
Mama: Oh, so you are both of our children?
The plural of child is children and since both refers to two things what follows has to be a plural.
Oh, so you are both of our child?
is incorrect. You can't say you are both, because both refers to you, and there is only one of you. I would say:
Mama: Oh, so you are our child?
This automatically implies both parents, when Mama says "our".
To write this concept using "both":
Mama: Oh, so you are a/the child of both of us?