I've been on this site since I was 6, and it has really changed since then.
You can move around in a virtual community, and talk and trade with other citizens like Webkinz and Club Penguin. As far as chat, parents can turn it completely off, set it to preprogrammed responses only, or do safe open chat, which is free typing chat with a very strong filter. Some people do occasionally get around the filter, but its definitely not as bad as some other virtual worlds I've been on. People also bully you about the whole rare item thing,particularly this one item called the bunny glasses,but you can hide your items and block trade requests to keep you safe. Also, can report snd ignore them, and Cybearguides, the bearville moderators, are constantly roaming everywhere. Literally. One more thing that bugs me that can't be caught really is this one emoticon. It's red with hearts around it and says "friends". But people don't use it that way, they use it to "kiss" each othe, and because everyone can use and see emoticons, having silent chat won't stop that. A lot of people film YouTube videos with other people on there, so make sure you see what your kid is doing :O
You can sign up to be a Jr. Cybearguide,which is sort of like a neighborhood watch in BABV, and I guess that teaches kids positive messages. You can also go on a nature walk and help pick up trash and stuff. Also, the whole website is bear-themed. They use words like "pawsome" and "beariffic", and the mascot sort of is Bearemey, a bear.They even have a virtual Build-a-Bear Workshop! Also, they want your money. You can't have a "cub condo" without buying a stuffed animal from build a bear, and they encourage you to buy credits, which is one form of currency in BABV. There is sometimes ads for Build A Bear products, and you get promotional offers frequently in your BearMail.
It's a very good site for kids 6-10, depending on their interests. Also, make sure you pick a good chat type and turn off features that you don't like ;)