How about, to do things slightly differently, you add a movie theme to the titles? This could really add something memorable to your farewell to your senior students.
So, for example, you could have 'Holly Golightly: Girl most likely to party forever.' Or, 'Indiana Jones: Boy most likely to have epic adventures.'
You could look at what really stands out about the various students and match the film characters accordingly...
Creative examples of senior student farewell party titles
Someone crazy and creative: Willy Wonka
Someone musical and whimsical: Sally Bowles
Someone determined and principled: Erin Brockovich
To add to the theme, you could give the students accessories / min-prizes that match their characters. For example, Holly Golightly would receive a feather boa or cigarette holder, while Indiana Jones would be given a battered fedora.
To take the theme even further, you could present the students with Oscar-style trophies, have a red carpet and maybe even create a Hollywood Walk of Fame crafts area. This would be a long roll of paper on which students would print their handprints in poster paint. They would then sign their names / write messages. This could become a piece of artwork for the wall of your school canteen.