There is a problem of a rapid decline in production caused by the repeated heating of the near-wellbore zone during steam stimulation. Finding a suitable foam system to expand the area of the steam chamber and slow down the rapid production of hot water during the recovery process can effectively improve the effect of steam stimulation. In this paper, CGS foam was prepared with high-temperature-resistant surfactant GD, graphite particles, and clay particles. Through the study of foam properties, it was found that with the addition of particles, the strength of the foam’s liquid film, half-life time, and temperature resistance was greatly improved. The appropriate permeability of the CGS foam and the movement characteristics of it in formations with different permeabilities were studied through a plugging experiment with a sand pack. The plugging performances of the GD foam, CGS foam, and pure particles in a simulated reservoir were compared. The development of the steam cavity during the steam stimulation process and the influence of injecting GD foam and CGS foam on the flow in the simulated reservoir were studied through a two-dimensional visualization model. The temperature resistance and stability of the CGS foam were better than those of GD foam in the simulated formation.