Our JrHS does a Promotion ceremony on the morning of the last day of school. The principal gives a pablum speech where he says how proud he is and highlights kids' accomplishments (e.g., science fair & art contest winners). Then each kids is called by name, walks across the makeshift outdoor stage, shakes hands with their advisement teacher, and the parents get to snap a quick photo. It's all over in time for lunch.
That same evening there's a semi-formal dance at the Boys and Girls Club. The girls get all dressed up, then all kick off their 3" heels to dance in groups. The boys stand around looking sheepish and intermittently play-punch one-another. It's only for the 8th graders (can't bring dates). There might be a minor fee for the dance that covers expenses for food and decoration.
It's not a big deal, but it's tastefully done.