Its called the Honor Ring. Here's what the 1950 pledge book says
"The Honor Ring is gold, bearing the face of an Egyptian Spinx, significant of wisdom. Above the face is a scroll with the letters in gold. The motif of palms on each shank of the ring symbolizes victory or accomplishment. Honor rings may be given by the chapter to any girl obtaining an average of 90 percent for three and 1/2 years of college work, or its equivalent. "
I'm not sure when these were discontinued, but I haven't heard of them for probably 20 years.
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