One of the better read-alouds I have, for 1st through 4th grades, if you aren't squeamish about a retelling of Little Black Sambo.
This is about my favorite read-aloud book as a teacher for any grade level (well, Kindergarten thru 4th). It really doesn't change any of the elements of "Little Black Sambo", other than Sam is a fast-talking urban kid (ultimately, it doesn't change the story). There's plenty of opportunity to change voices as a read-aloud, as well as audience participation.