There's a fairly ritzy subdivision called Bristlecone Pines in my hometown, and a lot of people like to rearrange the letters (facing a highway and two country roads) to spell Penis. They're now bolted down and spotlighted at all times. I luckily never got caught doing that.
I don't really have very many entertaining cop stories, I look a little older than I am so I've always been okay after partying. I think the worst was the first time I got pulled over...there is a podunk stop sign in my town where there's a left turn lane and a straight lane. I rolled through the left turn lane and went straight, and got pulled over. This was the day after I got my license, so I am none too happy about this. My friend and I had been blasting Limp Bizkit, so I reach down to turn off the stereo and grab my license. The cop shines a light in the car and interrogates me about what I was doing - he thought I was hiding beer or weed!
He let me off with a warning, thankfully.
Actually, I just thought of another funny cop story - I was back at my high school for some reason or other and had a bunch of my friends in my car freshman year of college. We had this little pathway connecting the road to the parking lot that I decided I wanted to drive accross. (I don't know why this seemed fun, but at the time it seemed like a super idea.) As I do that, I start driving through the parking lot and get pulled over IN THE PARKING LOT of the junior/senior building for doing this. The cop thought we were drunk and sent us on our way.