Quote:
Originally Posted by MysticCat
"Riding the goat" as an aspect of initiation into secret societies, and as a general euphemism for initiation itself, goes way back, originally being applied to Odd Fellows and Freemasons. A pretty good history of it can be found here.
From "riding the goat," it wasn't a long trip to goats have all kinds of parts to play in initiations. 
ETA:
"Riding the Goat" by Cassius Coolidge (of "Dogs Playing Poker" fame):
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"Riding the goat". So that is what the kids are calling *it* these days.
And great picture!