Just a small suggestion, last year I found actual ribbon awards at the Dollar Tree store that had different sayings on them and I was able to give each child an award. Some awards say:
First Tooth Award: a child that lost his tooth
Singing Star Award: a child who loves to sing
Math Whiz Award: a child who loves to do math
First Haircut Award: a child who got his first haircut
Leadership Award: a child who seems to be a leader
Book Lover Award: a child who loves to read books
I'm sorry that I can't think of all of them but each child got an award and I said a little something before pinning the award to them. The parents enjoyed it because they knew when their child was going to get the award because they knew their child and how much I praised them all year for their accomplishments. The children also got diplomas, a gift from me and my assistant (footballs, hulahoops and books for the summer) and we had a great lunch afterwards (hamburgers, hotdogs, salad, watermelon) etc. I would love to go above and beyond this year, but I had to take a leave from my job this year to complete my student teaching and I will return next Monday. But there are so many other things you can do. Like put on a little show. I've done "You are my sunshine" with a large sun and sunglasses for each child. etc.