Great idea for assigning groups or roles. Use the bracelets for assigning students into teams for class projects. Or if you want random team assignment, put the bracelets in a paper bag and have students close their eyes and pick one.
Third Grade first day of school -(or use as a good icebreaker for adults!) I usually do something similar, but I think I'll do it as a BiNGO board this year. Me: I use something similar with my graders as a BINGO board.
"This year flew by but we remember ." and using kite writing templates is a great idea for end of year writing assignment and summer bulletin board display. We could add pics taken throughout the year.