I wore this cotton dress (minus the grey socks!) to my son's nursery graduation last week. I didn't buy it for the occasion, but I find a semi smart cotton summer dress a really useful item so if you don't have anything like that then it might be a good investment :) some of the suggestions on this thread are lovely.
There were a range of outfits - from jeans to dresses. I don't think anyone looked out of place, it was relaxed and everyone just focused on the kids having a nice morning.