Options include the Cancer Kids and Rotorua Hospital Children's Ward.
"We aren't yet sure but we'd like it to go back into the community maybe child cancer or kids in hospital. We'd like see it to become an annual event."
The picnic was aimed to bring the community together in a fun way, she said.
There will be storytellers, a singer, face painting, bouncy castle, sausage sizzle, cake stalls and many other attractions.
Mrs Gaskill-Maxwell said she and her family went to the Taupo Teddy Bear's Picnic last year and it was heaps of fun.
"It's just so great to see all the different people outside and enjoying the day. We want people come out and join us to have a fun day. We'd love to have the community support this."
For those without a teddy bear, Plunket will have bears for sale.
There will be a prize for the best dressed person and bear prizes for the most loved bear, the oldest bear and the cutest and best dressed bear.
Mrs Gaskill-Maxwell's 4-year-old daughter Paige is planning on taking along Mickey Mouse.
"There will be a prize for the best matching pair. If someone dresses as Minnie Mouse and takes along Mickey Mouse, that's the sort of thing we'd like people to do to make it a fun event."
The event will be held at Kuirau Park on Saturday between 11am and 1pm.