My chapter still does candlelights for lavaliers, pins, and then engagements. The candle is a white taper candle with a white carnation and the colors of both Chi-O and the man's fraternity in ribbons tied around the base of the taper (if he's not Greek, just our colors are used). For alumnae, our group of sisters makes sure that when an alum sister gets engaged, she gets the candle she would have used for her candlelight. It's a pretty fun engagement gift to give, and I know it's a treasured one to receive!
ps--In response to the earlier posts (even though they are two+ years old)--pinning is still common on our campus, even though not as much as in the '60s. But I know many of my friend's moms who still wear their husband's pins, and a few who had them soldered onto their own pins. When I was an active, being pinned was quite an accomplishment--something that had almost been "earned"!