Anytime that you can give your students the opportunity to use more than one of their senses to learn is a good thing. Some students learn visually, some by hearing, and some by doing. Any activity that you create to give them these sensory experiences will help them learn more quickly and allow that knowledge to have a steadfastness it might not otherwise have had.
Even things as simple as standing up and sitting down have a profound effect on the student. When teaching a story that is this well known, it is good to have thought of ways to help the story come alive for each of the students. From playacting to drawing or singing, all of these activities will help a student have a hook to hang their proverbial hat on when it comes to the story you are studying.