A great activity at a Teddy Bear Party is reading a fun children's book during the snack or cake time.
Teddy Bears' Picnic (Aladdin Picture Books)
Can't You Sleep, Little Bear?: Special Anniversary Printing
Little Bear Boxed Set: Little Bear, Father Bear Comes Home, and Little Bear's Visit
Little Whistle's Dinner Party
There are a lot of fun Teddy Bear type books on the market.
Here are some we like:
Little Bear Boxed Set: Little Bear, Father Bear Comes Home, and Little Bear's Visit
Little Whistle's Dinner Party