I was just lavaliered by my boyfriend this past April. It is definitely a HUGE deal, and we look at it as the equivalent of a promise ring (just a greek version.) I know some fraternities (like the one my boyfriend is in) do not let girls wear their letters, and only those who are sweethearts, fiances, wives, mothers, sisters, and lavaliered are allowed to wear them, especially double stitched raised letters.
Everyone gets their lavalier in a different way, and it totally depends on the guys giving it away. I know mine was given away the day before a special day for us, so I wouldn't be expecting it. I know someone else said this about their school, but here people also look down on it if you give out your letters too quickly, as it is supposed to mean that the girl is equal to your brothers.
That's my school's take on the whole issue at least
