AFT: Yes, good point. The main thing is that the children should not fall.
Joseph: You are right. Schools often have stickers or pins with the name/address/phone# on each child, but usually that is for young children who are under constant supervision. They go from their teacher, onto the bus, and from the bus to whoever is waiting for them at the bus stop. This is usually for identification purposes for the bus driver.
I think the scenario that Aimhabonim is describing, would be for a child old enough and independent enough to walk by himself, but young enough to fall for such a trick. Usually, children of younger ages would be accompanied or supervised by an adult or older child.
Thank you Aimhabonim!