In my Alpha Phi Omega chapter, we were not allowed to wear letters or any APO paraphernalia as pledges. We could wear our pledge pins and that was it.
As for paddles, our chapter's tradition was to give paddles to the graduating seniors at our last meeting of the semester. The paddles were presented to each person by brothers who knew them pretty well, and talked about what that person brought to the organization and stuff. It was really meaningful. I still have my paddle hanging on the wall above my bed.