I have show-and-tell every Friday. They can bring 1 toy or other item to share. After sharing time I let them play with their toy but they do not have to share it. Everyone can play with their own. IF they want to share then they must let everyone have a short turn with it (which I typically have to oversee). There are usually no problems that arise with my group of 8 children (2 1/2-5 yrs). If there are problems then everyone has to put their toys in their cubbies. The threat of this usually inspires them to change their ways. This is what has worked for me for the last 6 years I have done it this way. It is really fun and the kids look forward to it all week.

If I were you I would try:
1) Have it weekly rather than monthly
2) Have each child be in charge of their own toy and do not require sharing

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