Last year was our first full year on the rotation model. Our closing day was set-up with 7 different stations. The students were given a bag (advertising for VBS) and they rotated from station to station.
At each station the did an activity or craft to remind them of the Bible stories they had learned that year. They also got a simple "goody" to take with them in their bag, along with a business card with that story's Bible verse. One of the students said it was so much fun, even better than trick-or-treating! I plan on doing this at the end of each year.