WAIKIKI — Ten-year-old Saili Petaia pulled from his pocket his most prized possession.

It was a rookie football card of his favorite player, Reggie Bush.

Without hesitation, he put the card in a large Rubbermaid storage container that served as a time capsule yesterday at Ala Wai Elementary School, where Petaia is a fourth-grader in the gifted and talented writing program.

"This is the most valuable thing I have," he said, shyly. "In the future, this will be the most memorable and valuable thing (to me)."

Yesterday students at Ala Wai Elementary School buried a time capsule full of items they think represent 2007. They included recent newspapers, a "High School Musical" DVD, the school newsletter and yearbook, the book "The Tale of Despereaux" by Kate Dicamillo, photos of school events, an advertisement for the seventh Harry Potter novel and two Time magazines.

There was even a gray folder of homework submitted by one student and a package of Twinkies by another.

"I really want to see how the Twinkies do," said Principal Charlotte Unni, laughing.

The time capsule replaced one buried by students seven years ago, five of whom returned yesterday to unearth the plastic storage container they had filled as fifth-graders.

In a ceremony outside the school library, they opened the time capsule — a plastic container sealed with duct tape and wrapped in a garbage bag.

The school's fourth- and fifth-grade students took part in the event yesterday.

Though the time capsule was buried only seven years ago, a lot of changes happened in the world, Unni said. Back then, the big fear was Y2K; the terrorist attacks of Sept. 11 hadn't happened yet.

"People thought the whole world was going to end in 2000," Unni said. "But then 9/11 happened. ... That continues to frame our political scene. It was major."

Seeing old photos was the highlight for the five students who returned to the school to open the time capsule.

"That was the most amazing thing to me," said Kuna Malama, 17, who just graduated from Kaimuki High School and will study auto mechanics at Hono-lulu Community College in the fall. "I feel so old now!"

Brittany Amano, 9, was surprised to see a Britney Spears cassette tape in the time capsule. "A lot of people don't really like her now," said the fourth-grader.

In the time capsule that was buried yesterday, she contributed an empty plastic bottle of green tea and a Cosmo Baker CD.

"I think that's what a lot of kids like now," Amano said. "I want to see what kids will like in the future."

Susan Zou, 18, and heading to the University of Washington in the fall, couldn't believe how much the world has changed in seven years.

"You have to be more careful now and take on more responsibility," said Zou, who graduated from Roosevelt High School this month. "The world is more unpredictable now."

She hopes the school, which has about 450 students in preschool through fifth grade, continues the tradition of burying time capsules, then inviting students back to view the contents as seniors in high school.

"It makes you remember where you came from and reminds you to treasure everything you've learned from the past," Zou said. "It's what makes us who we are today."

Reach Catherine E. Toth at ctoth@honoluluadvertiser.com.