There is a 3-story main lobby at my school through which most students have to go to get to classes. Back in the day, any recognized student group could hang "drop posters" that hung from the 3rd floor balcony almost to the lobby floor. Typically, sororities would hang drop posters right after bid day to announce their new members, then again after initiation to announce their new sisters.
The designs almost always tied into the sororities' symbols. We would do a giant lily of the valley with a different name painted on each flower; Theta would do a kite with a different name painted on each kite tail; etc.
Since that lobby was renovated, drop posters have gone away.
I'm not sure what is done now.