When my eldest graduated 6th grade last year, we had a group of parents who had made sure to collect photos and video clips of nearly every event for the entire year. They made a video out of all this, and showed it at the graduation.
The teachers had also done some surveys, questions like "what do you see yourself doing in 20 years." They then collated the results and shared them at graduation. For some of the items, such as career goals, the kids were invited to stand as they heard their goals read.
In 35 years, our school had never had a school song -- or if it did, nobody was still around that remembered it. Since we were assimilating most of the students from another school the district was closing, the music teacher and administration got together and wrote one and made it the first things the kids learned in music class that year. Alas, nobody planning graduation thought to have them sing it!
All the teachers and staff were in the gym for graduation. As their name was called, each student came forward and was handed a carnation. The student then gave it to a favorite teacher or staff member. The kids were told that if they didn't have a favorite (or their favorite has retired), to give it to somebody who hasn't received one (or has received few).
At the end of the day, all the lower grade students line the hallways. At dismissal, the graduating students walk down these halls, and the younger kids cheer them out of the building. This is an interesting one, because you always have a group of boys who run through it (usually with their arms raised). Then comes the bulk of the girls, often crying. Finally, the stragglers who are taking their time and soaking up the cheers.
If I pull out the video, I'm sure there's more that I'm forgetting, but these are the things I immediately remember.
