Choose storybooks with lessons in them about virtue, and read them aloud to the class. Stories like "The Three Little Pigs," "Jack and the Beanstalk" and "Pinocchio" teach virtue lessons about the importance of hard work, the dangers of greed and the value of telling the truth. Discuss the meaning of the stories with the class. For deeper understanding assign the students to write reports on the stories.
Give students sheets of construction paper and let them write their own story about various virtues. Each paper can have a few sentences of the story, and students can draw a picture illustrating the story on each page. Then, staple the papers together so each child has his own book. Before writing, assist them in determining which virtue they wish to illustrate in their story.
Let students make some simple finger puppets from pieces of felt or wooden craft sticks. Then, students can make up a puppet show all about virtues such as working hard or telling the truth. Make sure each student expresses clearly in their puppet show what virtue their project is centered on.
Put students into groups and instruct each group to think of a story of someone following a specific virtue. Then, let the students create a skit with costumes from a costume prop box. Each group can perform their skit for the class, and the other students can try and guess what virtue the skit was about.