The name tag is your chance to make yourself memorable and express yourself. Keep it tasteful, but have fun. I wouldn't put many literal pictures, and no words other than your name or other required information. I whole-heartedly encourage the use of glitter, glitter pens, glitter paint, feather trim, or pom pom trim. Just not all on the same name tag.
Try to make your name really big and prominent so it is easily readable. Do not use any sororities exact colors, like if you want pink and green maybe throw in touches of another color. That part is not really a big deal unless the sorority has an unusual signature color combo.