UFgirl,
I think "Phi Moo" is probably playfully used anywhere that GLOs have nicknames. I've heard some rather interesting variations of other organizations' names on my campus, and ours is somewhat mild in comparison.
I was browsing some earlier threads, and came across one in particular (about nicknames) that said the Phi Mus on a certain campus were called "Phi Moo" not because of size... just because "nothing gets under a girl's skin like a 'MOOOO'"
As far as elite goes, I think it is a matter of opinion. It really does vary from place to place. I am always proud to wear my letters because I know that I am being looked up to.
Just my $0.02 worth