At Eta chapter, there is a tradition to pass down a very old badge (it's from 1890) to the outstanding new member from the pledge class.  I don't know all of the details behind it's history but I am pretty sure the badge belonged to a sister of Eta chapter and she left it to our chapter when she passed away.  A new recipient is chosen with each pledge class and the badge gets passed down.  It's a really cool tradition if you ask me!!
I was lucky enough to have this honor bestowed on me during Spring '06 Initiation.  The badge is the most beautiful thing I have ever seen and it gives me goosebumps whenever I wear it.  Not to sound corny, but it fills me with such pride to have a close AND tangible link to the past.
Here are some pictures I took of it today...
 
  
As you can see it has a mixture of emeralds and seed pearls.  I believe there is another type of stone on the badge, but I haven't been able to figure out what it is yet.  It has the Eta chapter guard, which is chaised (sp?) as well.
 
I know this isn't the best shot but the back has the initials "ASB" with "1890" beneath it.
Although I will be sad when the times comes for me to pass it on, I know that the excitement I felt when I received it will be lived again through a new Initiate!