Corbin Dallas's comment about nationals being slow to send out badges to new members got me thinking... I'm just curious - how quickly do you get your badges?
AEPhi is very quick about sending out badges, so we always have them for initiation. The only customization that is available is that your initials are engraved on the back - and you can either get a chapter guard or not. It means a lot to me because the badge I got at initiation was mine, not someone else's.
My freshman year roommates (one AXO, one Theta) had to wait several months for their badges to come in. I saw the Theta catalog, and they allow a LOT of customization - you can get pearls, diamonds, 10K or 14K gold, etc. and they can cost upwards of $1000.

Of course, they come in long after initiation, so new initiates receive their big sisters' badges and keep them until their own pins come in.
I did think it was odd - I remember AXO hosting a party (10 years since their colonization, or something like that) and a lot of older sisters were wearing their new member pins... it took me a while before I realized their littles had their badges