We don't live close to any family and we don't belong to a co-op or local group, so it's just going to be our happy family of three. Son really doesn't want a party, just his favorite take-out. He sighingly agreed to let us be mushy parents and buy him a cap and tassel. He doesn't want a gown so I'm making him a t-shirt with our school's logo and then a list of colleges he got accepted into. We'll take pictures of him in it too. :)
I'm also making him a stuffed version of our school's mascot wearing a t-shirt with our school's logo on it, same as you see at any college. Finally, we thought he'd get a kick out of having a valedictorian medal. He is first in his class after-all. :P And more importantly, he's worked his butt off, achieved so much, faced a ton of obstacles, and come really far. He'll also get a diploma. (Heard how that can actually be an important thing for some employers and in some situations.)
Our first celebration though will come with that first college acceptance letter.