Farewell parties are interesting because they require a balanced amount of informal tone and formal tone. What kind of farewell is it? Are the teachers / guardians / parents at the hearing? Or are they just students?

As an anchor, your job is to make everyone feel special on their farewell day. So, use phrases or words in your script that everyone can relate to - maybe it could be an inside joke between all of you, or it could be a meme they shared, or it could even be an interesting memory.

Interspire the cultural program (if you have any song, dance or performance) with games or moments of exchange of experiences. The games could be specific to memories like you asking them to enact someone else or it could be something generic like musical chairs or charades.

In the end you can also have a contest - like Mr. and Mrs. * Insert what you want * and have contests. Keep your language informal and balanced. Do not go over the top with emotions.