Cut the paper or card stock out into the shape of a Christmas ornament and have the childre write the verse on it and decorate it. Covering it with contact paper can add stiffness and protect the ornament. Punch a hole near the top, twist a short piece of wire into a hanger and...presto! A take-home memory verse token/Christmas ornament for the tree or window.
(And you can be sure it will get a prominent place on the tree.)