Do you have any unusual graduation traditions?

In Norway, the graduating students become "Russ" and get a red, blue or black uniform (depending on what they've been studying) that gives them free bus rides and discounts almost everywhere, and are expected to party like crazy.
If someone's Russ and DON'T go out drinking and partying like crazy, their parents will probably tell them to go out and get drunk lol.

Do you have any wacky graduation traditions where you're from?