[KSigkid]

Alpha Phi at my school does this, they call it Jail N' Bail and use it as a philanthropy. They've had one of the top philanthropies on campus for the past few years. They use the Greek presidents and leaders of other campus orgs as the "prisoners," and the presidents set their own bail for their chapter to pay off.

I did it this past fall and it was fun; got to meet presidents of other orgs, and the event itself was set up extremely well.