1. The student who is closest to the doll should pick it up and introduce himself or herself to the other students.

2. The student who is nearest the doll should pick it up and introduce himself or herself to the other students.

3.The student closest to the doll should pick it up and introduce himself or herself to the other students.

4. The student nearest the doll should pick it up and introduce himself or herself to the other students.
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Are they all grammatical and commonly used?

All are correct and are fine to use.

=)