SMU Traditions

There are a few things at SMU that a lot of students feel they must accomplish before graduating.  I am among this spirited, peruna-loving crowd.  The "traditions" are normally passed on to the incoming freshman who have to come up with sneaky new ways to deceive the police.  The two main traditions that I have come across are:
1.  You must "fountain-jump" in at least one of the schools 563 colorfully-lighted fountains.
2.  You must have a picture taken of you riding one of the three, bronze horse statues.

Luckily for me, I can check off the first important action.  My friend and I ran to one of the fountains, submerged ourselves in the freezing water, took a few pictures, and ran away totally undetected.  It was a success.
Who came up with these strange rituals?  And how did they become so popular?  It's not like there is anything to gain by performing them.  The only award is the proof of the pictures and the satisfaction that you have in a way been initiated to a higher inner level at your university.  School spirit and pride is important; you gotta love where you go.  These couple traditions influence that spirit.  Only one thing left for me to do now: scale those monstrous mustangs and snap that pic.