My chapter of Phi Sigma Pi has the local mascot of 
Spyro the Dragon, mostly due to my initiate class, who came up with it. He's purple and gold (well, yellow), like the frat's colors, so that's why we like him. Now we have this huge blow-up Spyro that comes to events and wears a PSP sweatshirt and stuff...but we haven't degenerated to giving little Spyros as gifts or anything.