Metaphorically, the Michaelmas celebration is about the coming of the dark (less daylight) and about us entering and battling our own darkness and dragons. None of this is said the the children. They experience the story directly.
So . . . the little kids each went on a quest to mark Michaelmas. One at a time, the children were dressed in a golden cape and given a sword. They then crossed a river of flame (a shaking red play silk), crossed an icy raging river (blue play silk the ran down a wall into a bed around a tree), crossed the dragons spines (a set of low pilings on the playground), and rescued the princess. After the rescue, the were each knighted and had a star bestowed upon them. The stars ones the children had each "stitched" (as Oliver insisted, NOT sewed) out of yellow felt with beautiful blanket stitching around the edge. My child can sew? The blanket stitch? Cool.
They were all so proud of themselves. The celebration ended with an all-school picnic on the campus.