There are other gasses that are easy to generate: you could also inflate balloons with carbon dioxide, air (from an air pump) or hydrogen from the reaction of weak acid (vinegar is fine) on an active metals (the zinc plated onto roofing nails is fine.) The balloons will inflate with the colorless gasses all the same, but the hydrogen balloon should float (if you fill it enough) and the carbon dioxide balloon should drop. If you really like the soap bubble experiment, the bubbles will likewise sink or float, for carbon dioxide or hydrogen. There shouldn't be ignition sources in the classroom, so soap bubbles of hydrogen shouldn't be a hazard.