place mat for your banquet and create a memory board for the kids at the same time. My daughter took the place mat for each year and hung them on her wall. (YES, I am one of those MOM's who gave their bedroom to their child to decorate on their own, with my watchful eye)
You can find the scrapbook paper that is a place mat size. Build your memories from here as you do a scrapbook. OR with today's photoshop, printshop you can actually create a place mat and run it off on your computer.
The last step is to laminate your piece. If you are going to do this for many years, buy a roll of laminate. If you want someone else to do it... find a Kinko's nearby!