Penguin Dance by Jack Hartmann is the cutest movement song for preschoolers. Seeing a group of preschoolers waddle around and do their penguin moves to this song is the most adorable thing!
I use this song in my winter-themed preschool music lesson plan. I love how it requires kids to listen, follow directions and work on specific coordination and movement skills. You could use a recording, but the tune is simple enough to sing a cappella if you prefer.