I'm planning to let them each pick out their favorite outfit to wear, and one of our crafts will be to decorate posters with their names, ages, and grades, so we can get a picture of them with it - something we could do each year.
I got them each a new folder (to hold their daily math, science and language arts worksheets), pencil box (to hold their slate, chalk, cool pencils and erasers, glue, crayons, scissors, pencil sharpener, glue stick, etc.), a sticker book, and writing pad. I'm going to gift wrap the new pencil boxes (labeled with their names), and then wrap their folders/writing pads and their first reader book/sticker book seperately, so when they walk in, their desks will have three gift-wrapped items and a new nametag.
We'll probably not do a TON of schoolwork that day, but treat it more like school orientation:
Start with our Circle time (Bible story/verse, pledge of allegiance/national anthem)
Do a fun craft
Have a snack
Learn about our new morning chore chart and workbox system
Put their name/picture into their timeline books
Play a few educational board games
Listen to a fun story
Take a nature walk outside
Take our first day of school pics with our posters
Then go to lunch/ice cream with Daddy!