Since graduation decorations may only be used a couple times, why not make homemade decorations to celebrate the event?
Pick a Theme
There are a lot of different ways to pick a theme for a graduation party. It can be as simple as a color scheme in the school colors or another theme suitable for a graduation. For example, choose "Reach for the Stars," and decorate with paper star cutouts. Or make it "Oh, the Places You'll Go," and take lines from the Dr. Seuss book and post them throughout the party area.
Celebrate the accomplishments of the graduate by setting up a table with pictures of his or her journey. Show baby pictures, school pictures, special events and more. If you need other homemade decorations, you can frame report cards or some inspirational quotes.
Consider tasty homemade decorations. You can make cupcakes into graduation caps. Add food color to brown frosting to make it black. You can make graduation hats out of black sauce containers. Put trail mix or chocolate in the containers and cut black pieces of construction paper for the lid to make the top of the hat.
Write and print out fun facts about the graduate. Roll the papers up like diplomas and tie ribbons around them in the school's colors. Hand these out to guests as keepsakes.