I had children come up & hold each of the following:
(I put all pictures and the hearts into plastic sheet protectors. The rest of the props are just things I had around the house.)

 

Verse 1

I feel my Savior's Love - red heart cut out of construction paper

In all the world around me - Gak 600

His Spirit warms my soul - stocking cap (I used my dd's bright yellow one.)

Through everything I see - plastic glasses (binoculars or a magnifying glass would work too)

 

Verse 2

I feel my Savior's Love - same red heart above

It's gentleness enfolds me -- wrapped baby blanket around a child

And when I kneel to pray - Gak 605

My heart is filled with peace -- PINK heart with peace symbol drawn in it (could use dove too, but I don't have the artistic talent)

 

Verse 3

I feel my Savior's Love -- same red heart as above

And know that he will bless me - Gak213

I offer Him my heart -- Gak 604 (with the idea that we should come to the sacrament with a broken heart & contrite spirit)

My shepherd He will be -- dressed a boy up as a shepherd using a kitchen dish towel tied to his head as a head dress and a bent stick as a shepherd crook

 

Verse 4

I'll share my Savior's Love -- other side of heart above with words "I'll share" written on it.

By serving others freely -- Gak615

In serving I am blessed -- dressed a child in apron & wooden spoon (an example of a way that our Mother's serve)

In giving I receive -- a wrapped present

 

Chorus

He knows I will follow him -- a pair of my husband's dress shoes
Give all my life to Him - Gak 612 (mission is an example of giving our life to Him)

I feel my Savior's love -- red heart identical to first heart

The love He freely gives me -- Gak 608

 

This worked pretty well & gave us a chance to work the song over & over.
I stood behind or touched the child holding the prop for whatever part of the song we were singing.