Place footprints on the floor with the following images in them (Click on an image name to see that image):

Remove the footprints from the floor as the words are memorized.  There will be larger gaps to step over.  You can also make a dot-to-dot with the pictures for older children, and do the dot-to-dot on the board or an overhead as you sing. (To do the overhead, print the pictures on a transparency sheet.)

This is more for the Senior Primary...

Print off the words to the song, but in place of some of the words, put a scripture reference.  You could also do this as a poster, and make it a scripture chase.  Cover the scriptures with paper, and as you reveal the scriptures, the children can find the reference and figure out what it means.