That's a great idea.
I know that she and two or three of her friends would probably love to spend the weekend at the beach and take surfing lessons. Adult chaperonage is probably okay with that group of kids-- most of them would find it assumed, in all probability.
DD has announced that a HUGE class ring featuring a bunch of activities, that she can wear on a chain, would be awesome.
"Preciouuuuuuuusssssss..." 
So whoever came up with LOTR connection there-- nailed it.
She wears a Medic-Alert bracelet, so mostly doesn't wear other jewelry, and bracelets are hard to size for her because her wrists are so tiny (about 5.5"), so a Pandora or equivalent really wouldn't be her thing.
I think we'll see about getting an independent photographer (my DH knows someone who is a hobbyist) to do a few nice shots of her not as "senior" photos, but just because this is what she looks like as she's graduating from high school. It's time anyway since it's been a few years, and she just got her braces off.
Invitations/announcements, MEH. So over that. Not really caring much.
Maybe a scrapbook that includes signatures/messages from classmates is something she'd like as a keepsake of graduation. I'm guessing yes, in light of the fact that she will lack a yearbook. She can take her camera with her and snap photos to go into it later.
