In our Kinder class we use the extra points for recess incentives.
More smileys means we get a "longer" recess and we get to bring out the bikes.
Equal means we get a "Regular" recess and no bikes.
More frownies means we get a "short" recess, no bikes, and a short think time where we have to sit for a full minute with our listening bodies (criss cross, hands and eyes, and a bubble in our mouth) and then we share our ideas for why we got so many frowny points and how to get more smiley points the next day.
If you don't have bikes---think of other fun recess items. Balls, sidewalk chalk, etc. And like the person below said...it is a long year so maybe choose new incentive items every quarter instead of using all of them.