Other alterations could include:
1. Printing out the kids faces and gluing them onto the Care Bear's face so it's literally YOUR students on the board!
2. If kids are older you can have them paint or decorate with something fuzzy like yarn or cornmeal or sugar (just dye the cornmeal or sugar to desired color).
3. If you have a small enough group print out all the different Care Bears (tenderheart, hugs and tugs, braveheart, grumpy, etc...) and each child can be THAT Care Bear!