I saw a silver sparkly Hannah Montana back pack at the
Disney Store. It's silver and purple with a lot of little pockets everywhere, including one for an "iPod" type of thing with speakers! My DD6 liked it but I thought it was too big and bulky for her. Not very appropriate for grade 1 IMO. I think the less pockets the better. I don't want her carrying anything huge and heavy either.
They have the regular backpacks with matching clip on lunch bags on sale like a previous poster mentioned. I also saw the larger backpacks on wheels too at the Sq One store. I don't know if those are on sale or not.
I generally wait until the week before school starts when these backpacks are hugely discounted. They go down to 50% off at least by then.