There's a wide eye owl (make fingers in large circles and cup over eyes)
With a pointed nose (use fingers to make a triangle & point out for nose)
2 pointed ears (use fingers for ears)
and claws for toes (wiggle fingers like toes)
he lives way up in the tree (point up to tree top)
and when he looks at you (point at kids)
he flaps and flaps and flaps his wings (use arms for wings, and flap)
and says whooo whooo (continue flapping wings)

Modified from a rhyme found here: http://www.perpetualpreschool.com/preschool_themes/owls/owl_songs.htm