MIT hacks are very similar to what we call "canular" at the ENS (École normale supérieure) in France. The french word "canular" has actually been invented there using a false ethymology and has since become a regular french word everybody use without knowing it's origin.
One of many things I admire MIT for is their hacker culture. I wish we have one at CMU- but the culture there is completely different. It's a damn shame.
I'll resist the temptation to link to one in particular...