Whimsy Press has a great gift wrap design called DIY Design that features pre-printed doodles on one side and room for DIY doodles on the other. This design has always reminded me of the doodle-adorned notepads and kraft-paper-covered text books from high school and college years past, and it feels like a great element to inspire a girlie graduation party theme!
On the DIY side of the wrap, you can fill in the bubbles with custom notes & doodles like little graduations hats, phrases like "Congrats!" or "2008", your guest of honor’s name, and even special messages to the Grad. Use the gift wrap to cover text books, wrap vases, create table runners, etc.
This same design also comes in double-sided, pre-cut placemats for easy table top decor…
Just add black and white plates and table linens, a simple floral arrangement, wooden numbers that read "2008", and a few pictures of your Grad displayed in modern black and white frames. Complete the party theme with pink, black, and green paper lanterns and more pictures and wooden block letters and numbers that read "CONGRATS" and "2008" elsewhere in the party.