My school doesn't do one currently, but we are putting one together.
Another school in my town does a wonderful magazine. they put it out monthly, it is parent run/edited. Each child who submits something gets a copy. They hand them out during lunch and make a big deal about it.
Our school has a PTO-run publishing center, and we're considering pitching the idea of putting out a literary magazine. Does anyone here do this? Some of my questions are:
How often do you produce it?
How do you get it published? Do you sell them to students, or give them away? How many copies do you produce? Are they in color?
Do they include writing and art work?
How do you get submissions? Do all submissions get in, or do you make selections? How are selections made?
Do students get involved in the selection/layout/production?
I know these are a lot of questions, but my sole experience with literary magazines was in high school. A ninth-grader won't cry if their poem isn't selected, but a first-grader might be more upset, or their parents might be. On the other hand, critically appraising literary work is a valuable skill for students to learn, so there's something to be said for allowing older students to do that (as long as they don't critique their own grade's work!)