I used this conduct chart when I taught first grade. It was a fluid system meaning that my students could make up for their bad choices and go back UP. It was really empowering to my students and helped them realize that their choices would affect how easy or difficult their time in school could be. I soon realized that daily conduct was too difficult to keep up with, so I let the conduct run through the week and wherever they ended up at the end of the week would be reflected in their conduct grade. Obviously, if something serious happens, it needs to be dealt with that day. However, I very rarely had such bad behavior where I had to contact parents before the end of the week. Hope this works well for you!
For display purposes, I used burlap ribbon and punch holes in all four corners after I laminated them in 5MIL. I weaved the ribbon through and tied a bow at the top. I use two command hooks to hang it because the posters will bend otherwise.