I really like Jame's idea of a tie clip.
When my son was initiated I made him a LXA keepsake box.
I went to Hobby Lobby and found an oak box that had a glass frame for a photo on top. I took some wrapping paper as the back and put the crest on it (instead of a picture). Inside I place a glass coin dish with his letters. I had an old wooden box of ivory dominoes from his great grandfather so they got letters and went inside too! He seemed to REALLY like it. ...of course he was on a lot of drugs for his wisdom teeth surgery!