Police in South Shields are looking into giving the youngsters awards for their conduct on Wednesday, March 29.
The Harton Technology College pupils were on the beach when they saw the tot peering over the edge of a 60ft cliff at Marsden.
He had run away from his mum Alison on his way home from nursery in Horsley Hill and ended up on the Leas.
After a frantic 15-minute search, Miss Purvis contacted the police, who scrambled the force helicopter and deployed officers to the area. The search was called off after one of the teenagers rang 999 on her mobile.
They had dragged the tot, who was on the wrong side of the safety barrier, away from the cliff egde and took him on to the beach to calm him down.
Six youngsters, aged 13 and 14, have already received a pat on the back from the officers involved, their parents and the school.
Three other youngsters have come forward to say they were involved but left the scene before officers arrived.
They are Ryan Gabriele, Bradley Dalton and Jade Jeffries, all 14 and from the same school.
Acting Sergeant Dougie McAllister, of South Shields police, said: "Make no bones about it, they stopped him going over the edge."
He added that Miss Purvis "couldn't speak highly enough" of the children when she was reunited with her son.
Their headteacher, Ken Gibson, said: "It would seem that they certainly saved the life of this young boy with their speed of thought.
"I am sure their parents are very proud of them and the school is very proud, and the police are highly delighted with their actions."

By ANGELA TAGGART
angela.taggart@northeast-press.co.uk