What would you do?

[Gusteau]

I would say something if the action was causing or could cause physical, mental, emotional harm to the offenders or those around them. For an action that does not appear to cause harm I would probably only say something if I knew the chapter advisor already.

I always tell students that a good benchmark for hazing/risk management issues is to gauge how something makes you feel. If this incident made you uncomfortable enough to come here with it I think it sounds like it should be reported.