Setting the scene: Depending on how long you've been out of college, decorating for this party could be a challenge. More than two years out and you'll need to put all your stuff in storage and head over to the thrift store to get furniture no sober person would want to sit on. Why? Because this party doesn't end until there's a food fight. Get milk crate bookshelves and put a twin bed on cinder blocks. Hang Greek letters for Omega Chi from the front porch, and as a college prank, have guests decorate your front yard in toilet paper. Remember, no hazing, but hiring a couple of local college students to occasionally run around the place with letters painted on their bodies chanting, ''Omega Chi! Omega Chi!'' should be enough to entertain the neighbors.
On the menu: Anything throwable. Think mashed potatoes, pudding, dinner rolls, creamed corn, pizza and ramen noodles. Beverage of choice: kegs of beer. You'll also need plastic cups, a garden hose and a funnel.
On the hi-fi: Ah, the Greeks loved their tunes, but frat houses tend to play a lot of pothead music, so break out the Grateful Dead, Dave Matthews Band or the String Cheese Incident and see if everyone gets the munchies. Another good choice is the ''Animal House'' soundtrack featuring such classics as ''Louie, Louie'' by the Kingsmen, ''Shout'' by Lloyd Williams and ''Twistin' the Night Away'' by Sam Cooke.
The showstopper: Want to really feel Greek? There are often former fraternity and sorority houses for sale. At this writing, there was a nine-bedroom, four-bath former sorority house in Austin, Texas, selling for a mere $775,000 at www.praustin.com. Just think, panty raids and pillow fights every night!